Laying bare the structural challenges facing Michigan's economy – from a massive unfunded pension liability to rising CEO pessimism over the state's manufacturing future – Gov. Gretchen Whitmer sat down for an unusually transparent financial review on YouTuber Caleb Hammer's "Financial Audit" show on Nov. 3.
The headline number that should worry taxpayers: Michigan carries an unfunded pension liability of approximately $27 billion, which is scheduled to be amortized and fully addressed within a 15-year period ending around 2038, roughly five times the state’s annual K-12 school aid fund contribution.
