Ann Arbor, MI -- Today, after attending the Business Leaders for Michigan Leadership Summit, Rick Snyder issued the following statement in response to the dire report on Michigan's fiscal future:

"Michigan's budget woes aren't going to be solved by the current broken budget system in Lansing. Our state must adapt to the changing times and be forward looking. That's why I proposed Value for Money budgeting so that our budget can be right-sized to provide results for tax dollars with the stability that results from a multi-year approach. The state of Washington successfully implemented a similar outcome-based budget reform and was able to close a $2.4 billion deficit without raising taxes."

"Not only does Value for Money budgeting bring accountability and performance-based measurements to guarantee taxpayers are getting the best return for their investment, it takes the decision-making power out of the hands of special interests and back in the hands of citizens. By helping shape priorities, citizens will be able to work with the Governor and Legislature to ensure that money is spent where it is most needed. Our schools, hospitals, roads and communities deserve a reliable and innovative budget process that reflects our economy and that's what my plan achieves."