DETROIT, Mich. – Business Leaders for Michigan (BLM), the state’s business roundtable, today issued the following statement in response to the West Michigan Policy Forum’s position on unfunded liabilities:
“Business Leaders for Michigan supports actions that reduce government unfunded liabilities that are consuming revenues needed for vital public services and risking the financial security of the public employees they were designed to serve. Our research has shown that these costs are high, growing and probably under-estimated. At a minimum, all government entities should be required to report their unfunded liabilities using the same terms and conditions for greater transparency. BLM will release additional recommendations on how to ensure the long-term fiscal health of the state later this fall based on a broader analysis of Michigan’s fiscal competitiveness.”