https://www.detroitnews.com/story/news/e...-NLETTER65

Interesting article. The State of MI is looking at a legislative proposal to fund state colleges with a formula based on number of STATE OF MICHIGAN RESIDENT STUDENTS.

Universities like EMU, CMU, etc. would get 10% more. UofM and WSU would get hit.

Here you go. Even without the most recent federal stimulus ie federal dollars Michigan's overall tax revenues are up. Sales tax and personal income taxes are the main reason why due to stimulus payments to individuals who indeed spent the money and enhanced unemployment benefits which drove individual income taxes higher. Two areas I hope will get some $$$ from the "surplus" is education and roads, roads roads including main trunk lines, county and local roads and bridges.

https://www.lansingstatejournal.com/stor...166889001/

(05-24-2021 05:35 AM)emu79 Wrote:  Here you go. Even without the most recent federal stimulus ie federal dollars Michigan's overall tax revenues are up. Sales tax and personal income taxes are the main reason why due to stimulus payments to individuals who indeed spent the money and enhanced unemployment benefits which drove individual income taxes higher. Two areas I hope will get some $$$ from the "surplus" is education and roads, roads roads including main trunk lines, county and local roads and bridges.

https://www.lansingstatejournal.com/stor...166889001/

One important thing is that the federal government put money in individuals pockets and also put money in state and local government pockets. ​

Yes, a lot of states (including CA which is having huge surpluses) have a chance to do one-time fixes with roads, maybe bail out schools, work to end homelessness, etc.

It would be nice if the state could write one-time checks to public colleges to help cover what the lost during this current school year.

As we discuss here from time to time, it would be a shame if Michigan's fine public colleges could get into deep financial trouble exasperated by Covid, which could be ameliorated by a one time 'bailout.'

Here is an article on CA's 75B surplus:

https://apnews.com/article/california-he...211df21c08

im from the north east and Michigan's public university system is better than those schools. its a shame their funding was cut by lead rick. pour that money back on.

Plenty of $$$$. Caution though-cities towns and counties are all in different financial situations than the state governments.

https://news.yahoo.com/states-are-awash-...49326.html

(05-27-2021 05:37 AM)emu79 Wrote:  Plenty of $$$$. Caution though-cities towns and counties are all in different financial situations than the state governments.

https://news.yahoo.com/states-are-awash-...49326.html

We're pretty big on $ here in D.C. We print; We spend; and We dole out.

The consensus here is that we are in a K-shaped recovery. Economy went straight down a year ago and recovery has stratified usually based on some criteria (e.g., white collar vs. blue collar, college educated vs. not, etc.).

The 2-legs are one group who did very well (e.g., lost no employment income, got rich in the stock market, real estate, etc.) while the other group lost income and didn't do well financially (e.g. contract employee who had hours reduced, a car salesmen who didn't sell many cars, etc. who literally were on the ropes say in spring 2020).

Stumbled on this MLive.com article on various new/renovated buildings at EMU (article is one year old):

https://www.mlive.com/news/ann-arbor/202...-2020.html

Even without federal money the State of Michigan tax revenues continue to be strong. See link for April 2021 and the fiscal year revenues from 11/1/20 through 4/30/21, in short we are now halfway through the current fiscal year.

https://www.senate.michigan.gov/sfa/Publ...Recent.pdf

Halfway through the current fiscal year and tax revenues continue to beat expectations. May tax collection report:

https://www.senate.michigan.gov/sfa/Publ...Recent.pdf

From today's Detroit News:

GOP lawmakers and Whitmer have nearly $7 billion in federal stimulus money for state government available to allocate. On top of that, they have more than $2 billion in surplus money in the current fiscal year. Combined, the stimulus funds for state government over which lawmakers have broad discretion and the surplus nearly match the entire general fund this year: $10.6 billion.

Really would like some of our current debt for past building projects to be paid off or down as well as some more state dollars for the Business School remodeling and just basic maintenance stuff like paving parking lots.

(06-16-2021 05:29 AM)emu79 Wrote:  From today's Detroit News:

GOP lawmakers and Whitmer have nearly $7 billion in federal stimulus money for state government available to allocate. On top of that, they have more than $2 billion in surplus money in the current fiscal year. Combined, the stimulus funds for state government over which lawmakers have broad discretion and the surplus nearly match the entire general fund this year: $10.6 billion.

Really would like some of our current debt for past building projects to be paid off or down as well as some more state dollars for the Business School remodeling and just basic maintenance stuff like paving parking lots.

That would just be too sensible! Government in Michigan, not unlike the rest of the country has not been in the business of "maintaining" assets, politicians cannot pose for ribbon cutting new projects where they pose for photographers with a shovel in their hand. Witness the Grosse Ille bridge situation where the privately owned bridge is the only means of accessing the community due to a dearth of attention given to the taxpayer supported bridge, a catastrophe for sure. No elected official is going to attend a much needed parking lot repaving or the act of retiring debt at EMU, it simply is not newsworthy.

With the recent HUGE donation at WMU, I suspect that there will be many new construction projects and I assume that state and local government leaders will be attracted to those and the media opportunities they present like flies on shi*!

Thanks James for the financial info, it is incredibly helpful. I have always wondered how govt's blamed their 2008-9 recession investments for their financial woes. My retirement funds got murdered at first but they have recovered quite nicely since and I have been wondering why the govt is any different.

(06-16-2021 06:13 PM)Jerry Weaver Wrote:  

(06-16-2021 05:29 AM)emu79 Wrote:  From today's Detroit News:

GOP lawmakers and Whitmer have nearly $7 billion in federal stimulus money for state government available to allocate. On top of that, they have more than $2 billion in surplus money in the current fiscal year. Combined, the stimulus funds for state government over which lawmakers have broad discretion and the surplus nearly match the entire general fund this year: $10.6 billion.

Really would like some of our current debt for past building projects to be paid off or down as well as some more state dollars for the Business School remodeling and just basic maintenance stuff like paving parking lots.

That would just be too sensible! Government in Michigan, not unlike the rest of the country has not been in the business of "maintaining" assets, politicians cannot pose for ribbon cutting new projects where they pose for photographers with a shovel in their hand. Witness the Grosse Ille bridge situation where the privately owned bridge is the only means of accessing the community due to a dearth of attention given to the taxpayer supported bridge, a catastrophe for sure. No elected official is going to attend a much needed parking lot repaving or the act of retiring debt at EMU, it simply is not newsworthy.

With the recent HUGE donation at WMU, I suspect that there will be many new construction projects and I assume that state and local government leaders will be attracted to those and the media opportunities they present like flies on shi*!

Thanks James for the financial info, it is incredibly helpful. I have always wondered how govt's blamed their 2008-9 recession investments for their financial woes. My retirement funds got murdered at first but they have recovered quite nicely since and I have been wondering why the govt is any different.

The two crises were very different. The government stimulus this time gave a shot to consumer spending and the fact that state governments could sales tax on line sales saved their asses. I would imagine most pension funds have done nicely since 2008 since the stock market has done well. I used the gains in my 401k to cash since I'm at the age that I can't afford another 2008 meltdown.

UofM athletics need to go on a diet. Their budget is truly bloated and boy did they financially starve this FY.

https://www.detroitnews.com/story/sports...728477002/

(06-17-2021 04:39 AM)emu79 Wrote:  

(06-16-2021 06:13 PM)Jerry Weaver Wrote:  

(06-16-2021 05:29 AM)emu79 Wrote:  From today's Detroit News:

GOP lawmakers and Whitmer have nearly $7 billion in federal stimulus money for state government available to allocate. On top of that, they have more than $2 billion in surplus money in the current fiscal year. Combined, the stimulus funds for state government over which lawmakers have broad discretion and the surplus nearly match the entire general fund this year: $10.6 billion.

Really would like some of our current debt for past building projects to be paid off or down as well as some more state dollars for the Business School remodeling and just basic maintenance stuff like paving parking lots.

That would just be too sensible! Government in Michigan, not unlike the rest of the country has not been in the business of "maintaining" assets, politicians cannot pose for ribbon cutting new projects where they pose for photographers with a shovel in their hand. Witness the Grosse Ille bridge situation where the privately owned bridge is the only means of accessing the community due to a dearth of attention given to the taxpayer supported bridge, a catastrophe for sure. No elected official is going to attend a much needed parking lot repaving or the act of retiring debt at EMU, it simply is not newsworthy.

With the recent HUGE donation at WMU, I suspect that there will be many new construction projects and I assume that state and local government leaders will be attracted to those and the media opportunities they present like flies on shi*!

Thanks James for the financial info, it is incredibly helpful. I have always wondered how govt's blamed their 2008-9 recession investments for their financial woes. My retirement funds got murdered at first but they have recovered quite nicely since and I have been wondering why the govt is any different.

The two crises were very different. The government stimulus this time gave a shot to consumer spending and the fact that state governments could sales tax on line sales saved their asses. I would imagine most pension funds have done nicely since 2008 since the stock market has done well. I used the gains in my 401k to cash since I'm at the age that I can't afford another 2008 meltdown.

James you are a great and intelligent poster! Yes the two crises are different.

My point is this: How many times have you heard a govt official declare that they are flush with cash like we are right now in Michigan? Then how many 1,000 times have you seen them plead poverty and blame outside events like the 2008-9 stock market crash for the opposite? Their investments, if they had stayed put like James and Jerry did, would be far more valuable today and I suspect that is exactly what happened. Govt, however, never lets a good crisis go to waste and an opportunity to justify more requests for funding, the Great Recession was just another of such.

(06-18-2021 07:41 PM)Jerry Weaver Wrote:  

(06-17-2021 04:39 AM)emu79 Wrote:  

(06-16-2021 06:13 PM)Jerry Weaver Wrote:  

(06-16-2021 05:29 AM)emu79 Wrote:  From today's Detroit News:

GOP lawmakers and Whitmer have nearly $7 billion in federal stimulus money for state government available to allocate. On top of that, they have more than $2 billion in surplus money in the current fiscal year. Combined, the stimulus funds for state government over which lawmakers have broad discretion and the surplus nearly match the entire general fund this year: $10.6 billion.

Really would like some of our current debt for past building projects to be paid off or down as well as some more state dollars for the Business School remodeling and just basic maintenance stuff like paving parking lots.

That would just be too sensible! Government in Michigan, not unlike the rest of the country has not been in the business of "maintaining" assets, politicians cannot pose for ribbon cutting new projects where they pose for photographers with a shovel in their hand. Witness the Grosse Ille bridge situation where the privately owned bridge is the only means of accessing the community due to a dearth of attention given to the taxpayer supported bridge, a catastrophe for sure. No elected official is going to attend a much needed parking lot repaving or the act of retiring debt at EMU, it simply is not newsworthy.

With the recent HUGE donation at WMU, I suspect that there will be many new construction projects and I assume that state and local government leaders will be attracted to those and the media opportunities they present like flies on shi*!

Thanks James for the financial info, it is incredibly helpful. I have always wondered how govt's blamed their 2008-9 recession investments for their financial woes. My retirement funds got murdered at first but they have recovered quite nicely since and I have been wondering why the govt is any different.

The two crises were very different. The government stimulus this time gave a shot to consumer spending and the fact that state governments could sales tax on line sales saved their asses. I would imagine most pension funds have done nicely since 2008 since the stock market has done well. I used the gains in my 401k to cash since I'm at the age that I can't afford another 2008 meltdown.

James you are a great and intelligent poster! Yes the two crises are different.

My point is this: How many times have you heard a govt official declare that they are flush with cash like we are right now in Michigan? Then how many 1,000 times have you seen them plead poverty and blame outside events like the 2008-9 stock market crash for the opposite? Their investments, if they had stayed put like James and Jerry did, would be far more valuable today and I suspect that is exactly what happened. Govt, however, never lets a good crisis go to waste and an opportunity to justify more requests for funding, the Great Recession was just another of such.

I have a very good friend who is generally financially conservative (he'd retired) but he made a big play on the stock market I believe late March or early April 2020. His timing was impeccable.

His thesis was that the pandemic wouldn't last forever and stocks were selling at a big discount. Then stimulus came and the markets responded very well and he has been cashing in.

He is one of those investors who may have made 50% last year on stocks by buying low and selling high

(06-18-2021 07:53 PM)emu steve Wrote:  

(06-18-2021 07:41 PM)Jerry Weaver Wrote:  

(06-17-2021 04:39 AM)emu79 Wrote:  

(06-16-2021 06:13 PM)Jerry Weaver Wrote:  

(06-16-2021 05:29 AM)emu79 Wrote:  From today's Detroit News:

GOP lawmakers and Whitmer have nearly $7 billion in federal stimulus money for state government available to allocate. On top of that, they have more than $2 billion in surplus money in the current fiscal year. Combined, the stimulus funds for state government over which lawmakers have broad discretion and the surplus nearly match the entire general fund this year: $10.6 billion.

Really would like some of our current debt for past building projects to be paid off or down as well as some more state dollars for the Business School remodeling and just basic maintenance stuff like paving parking lots.

That would just be too sensible! Government in Michigan, not unlike the rest of the country has not been in the business of "maintaining" assets, politicians cannot pose for ribbon cutting new projects where they pose for photographers with a shovel in their hand. Witness the Grosse Ille bridge situation where the privately owned bridge is the only means of accessing the community due to a dearth of attention given to the taxpayer supported bridge, a catastrophe for sure. No elected official is going to attend a much needed parking lot repaving or the act of retiring debt at EMU, it simply is not newsworthy.

With the recent HUGE donation at WMU, I suspect that there will be many new construction projects and I assume that state and local government leaders will be attracted to those and the media opportunities they present like flies on shi*!

Thanks James for the financial info, it is incredibly helpful. I have always wondered how govt's blamed their 2008-9 recession investments for their financial woes. My retirement funds got murdered at first but they have recovered quite nicely since and I have been wondering why the govt is any different.

The two crises were very different. The government stimulus this time gave a shot to consumer spending and the fact that state governments could sales tax on line sales saved their asses. I would imagine most pension funds have done nicely since 2008 since the stock market has done well. I used the gains in my 401k to cash since I'm at the age that I can't afford another 2008 meltdown.

James you are a great and intelligent poster! Yes the two crises are different.

My point is this: How many times have you heard a govt official declare that they are flush with cash like we are right now in Michigan? Then how many 1,000 times have you seen them plead poverty and blame outside events like the 2008-9 stock market crash for the opposite? Their investments, if they had stayed put like James and Jerry did, would be far more valuable today and I suspect that is exactly what happened. Govt, however, never lets a good crisis go to waste and an opportunity to justify more requests for funding, the Great Recession was just another of such.

I have a very good friend who is generally financially conservative (he'd retired) but he made a big play on the stock market I believe late March or early April 2020. His timing was impeccable.

His thesis was that the pandemic wouldn't last forever and stocks were selling at a big discount. Then stimulus came and the markets responded very well and he has been cashing in.

He is one of those investors who may have made 50% last year on stocks by buying low and selling high

Kudos to him, he was incredibly prescient! I would not, however, condone that kind of investment strategy for public funds. The market has returned 6% in the last 20 years, 10% in the past ten, good enough returns for me with tax dollars on a stable low risk strategy. Your friend is incredibly bright but me and '79 have established nest eggs that at our age, are not going to put into a high risk situation despite the potential of high yields. Government needs to have the same approach with taxpayer collected funds.

(06-19-2021 03:39 PM)Jerry Weaver Wrote:  

(06-18-2021 07:53 PM)emu steve Wrote:  

(06-18-2021 07:41 PM)Jerry Weaver Wrote:  

(06-17-2021 04:39 AM)emu79 Wrote:  

(06-16-2021 06:13 PM)Jerry Weaver Wrote:  That would just be too sensible! Government in Michigan, not unlike the rest of the country has not been in the business of "maintaining" assets, politicians cannot pose for ribbon cutting new projects where they pose for photographers with a shovel in their hand. Witness the Grosse Ille bridge situation where the privately owned bridge is the only means of accessing the community due to a dearth of attention given to the taxpayer supported bridge, a catastrophe for sure. No elected official is going to attend a much needed parking lot repaving or the act of retiring debt at EMU, it simply is not newsworthy.

With the recent HUGE donation at WMU, I suspect that there will be many new construction projects and I assume that state and local government leaders will be attracted to those and the media opportunities they present like flies on shi*!

Thanks James for the financial info, it is incredibly helpful. I have always wondered how govt's blamed their 2008-9 recession investments for their financial woes. My retirement funds got murdered at first but they have recovered quite nicely since and I have been wondering why the govt is any different.

The two crises were very different. The government stimulus this time gave a shot to consumer spending and the fact that state governments could sales tax on line sales saved their asses. I would imagine most pension funds have done nicely since 2008 since the stock market has done well. I used the gains in my 401k to cash since I'm at the age that I can't afford another 2008 meltdown.

James you are a great and intelligent poster! Yes the two crises are different.

My point is this: How many times have you heard a govt official declare that they are flush with cash like we are right now in Michigan? Then how many 1,000 times have you seen them plead poverty and blame outside events like the 2008-9 stock market crash for the opposite? Their investments, if they had stayed put like James and Jerry did, would be far more valuable today and I suspect that is exactly what happened. Govt, however, never lets a good crisis go to waste and an opportunity to justify more requests for funding, the Great Recession was just another of such.

I have a very good friend who is generally financially conservative (he'd retired) but he made a big play on the stock market I believe late March or early April 2020. His timing was impeccable.

His thesis was that the pandemic wouldn't last forever and stocks were selling at a big discount. Then stimulus came and the markets responded very well and he has been cashing in.

He is one of those investors who may have made 50% last year on stocks by buying low and selling high

Kudos to him, he was incredibly prescient! I would not, however, condone that kind of investment strategy for public funds. The market has returned 6% in the last 20 years, 10% in the past ten, good enough returns for me with tax dollars on a stable low risk strategy. Your friend is incredibly bright but me and '79 have established nest eggs that at our age, are not going to put into a high risk situation despite the potential of high yields. Government needs to have the same approach with taxpayer collected funds.

I am at 35% money market and 65% in stocks split into large cap mid cap small cap and foreign.

(06-19-2021 07:51 PM)emu79 Wrote:  

(06-19-2021 03:39 PM)Jerry Weaver Wrote:  

(06-18-2021 07:53 PM)emu steve Wrote:  

(06-18-2021 07:41 PM)Jerry Weaver Wrote:  

(06-17-2021 04:39 AM)emu79 Wrote:  The two crises were very different. The government stimulus this time gave a shot to consumer spending and the fact that state governments could sales tax on line sales saved their asses. I would imagine most pension funds have done nicely since 2008 since the stock market has done well. I used the gains in my 401k to cash since I'm at the age that I can't afford another 2008 meltdown.

James you are a great and intelligent poster! Yes the two crises are different.

My point is this: How many times have you heard a govt official declare that they are flush with cash like we are right now in Michigan? Then how many 1,000 times have you seen them plead poverty and blame outside events like the 2008-9 stock market crash for the opposite? Their investments, if they had stayed put like James and Jerry did, would be far more valuable today and I suspect that is exactly what happened. Govt, however, never lets a good crisis go to waste and an opportunity to justify more requests for funding, the Great Recession was just another of such.

I have a very good friend who is generally financially conservative (he'd retired) but he made a big play on the stock market I believe late March or early April 2020. His timing was impeccable.

His thesis was that the pandemic wouldn't last forever and stocks were selling at a big discount. Then stimulus came and the markets responded very well and he has been cashing in.

He is one of those investors who may have made 50% last year on stocks by buying low and selling high

Kudos to him, he was incredibly prescient! I would not, however, condone that kind of investment strategy for public funds. The market has returned 6% in the last 20 years, 10% in the past ten, good enough returns for me with tax dollars on a stable low risk strategy. Your friend is incredibly bright but me and '79 have established nest eggs that at our age, are not going to put into a high risk situation despite the potential of high yields. Government needs to have the same approach with taxpayer collected funds.

I am at 35% money market and 65% in stocks split into large cap mid cap small cap and foreign.

Similar to me. I'm 60% cash (I get the 10 year treasury rate) and 40% S&P 500. That works for me.

This is DP after today's SCOTUS ruling:

https://www.cnn.com/2021/06/21/politics/...%3A37%3A34

(06-21-2021 09:41 AM)emu steve Wrote:  This is DP after today's SCOTUS ruling:

https://www.cnn.com/2021/06/21/politics/...%3A37%3A34

https://www.detroitnews.com/story/sports...769539002/

"The case doesn’t decide whether students can be paid salaries. Instead, the ruling will help determine whether schools decide to offer athletes tens of thousands of dollars in education-related benefits for things such as computers, graduate scholarships, tutoring, study abroad and internships."

Not there yet - but the NCAA's power is eroding one court case / law at a time.