Rainy Day Fund Woes

By: Tim Skubick
By: Tim Skubick

As the state tries to claw its way out of debt, the chair of the senate appropriations committee is looking at the cash reserves of a variety of governmental units as a way to balance the books.

Senator Shirley Johnson telling News 10 that if these groups are "sitting on some money and it's your Rainy Day fund, the message should be, it's raining."

Meanwhile the Michigan Chamber of Commerce has embraced the move by Johnson and others to dip into these cash reserves because as lobbyist Rich Studley puts, it, "some are sitting on substantial fund balances."


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