With an average premium of $2,394 per year, Michigan has the most expensive auto insurance in the nation. The next most expensive state, Louisiana, has an average premium of $1,921 per year. Detroit is, by far, the most expensive city to purchase auto insurance with an average yearly premium of $7,415 – 60 percent higher than the second most expensive city (Brooklyn, NY).

A tax system should satisfy three criteria: it should raise sufficient revenue for the government to conduct its operations; it should minimize the economic distortions associated with taxation; and, it should minimize the costs taxpayers pay simply to comply with the tax code.

As part of a tax reform package, the President and Congress have expressed a desire to sharply cut personal and corporate income tax rates in order to spur economic growth. The reality of the federal government’s fiscal situation presents a challenge to this.

Although many people perceive that our infrastructure is decaying, the reality is more nuanced. State trunkline highways – roads designated with an “I,” “U.S.,” or “M” – carry 53 percent of all traffic and 66 percent of all commercial truck traffic. Of these roads, 85 percent are rated as being “fair” or “good” condition, with only five percent of bridges rated as structurally deficient. Thus, the roads that carry the majority of vehicle traffic in Michigan are in pretty good shape, though these roads are slowly decaying over time. In 2008, 92 percent of Michigan trunkline was rated as “fair” or “good.”

Many people feel that Michigan’s government does not function well. Often blamed for this are term limits, and the fact that Michigan is one of only four states with a full-time legislature. Although it is always tempting to find a convenient scapegoat, this blame is misplaced.

Little Caesar’s arena will open with a Kid Rock concert in September and will then be home to the Detroit Pistons and the Red Wings during their respective seasons. With $300 million public money being used to construct the arena, how much economic impact can the State expect as a result? Unfortunately, not much.

Healthcare is one of our most pressing political issues, but I think the current debate is missing the mark. The problem is not a lack of insurance coverage, the problem is runaway costs. If healthcare costs can be restrained, coverage will follow.

The national debt and persistent budget deficits are a serious concern. At $19.8 trillion, or $165,500 per taxpayer, the U.S. national debt is at 105 percent of gross domestic product (GDP), a peacetime record. So long as the national debt grows faster than the economy, as it did in 2016, the debt-to-GDP ratio will only increase.

It has been nearly ten years since the housing crisis led to the worst recession since the Great Depression. Thus, it may be a good time for some reflections.

General Motors recently announced that it would invest $1 billion across several U.S. plants, creating or retailing 1,500 jobs. Ford also announced it would cancel a planned $1.6 billion plant in Mexico and would instead invest $700 million to expand production in Michigan, adding 700 jobs. Chrysler recently announced it would invest $1 billion in Michigan and Ohio, adding 2,000 jobs while Toyota, Hyundai, and Kia have announced multibillion dollar investments, as well.

On Friday, January 20, Donald Trump was sworn in as the 45th President of the United States. The federal government’s current fiscal condition will limit Trump’s ability to substantially change economic policy; Social Security and Medicare comprise 50 percent of the federal budget. National defense and interest on the national debt comprise another 25 percent. Thus, 75 percent of the federal budget is essentially on auto-pilot before Trump takes office while the other 25 percent includes things such as income security, education and transportation, things unlikely to be substantially changed. Unless Trump is willing to cut entitlements or defense, which thus far he seems uninterested in doing, I would not expect substantial changes in government spending in his administration.

This winter, Americans will file their Income Tax returns and eagerly await their refunds. According to the IRS, the average tax refund is $3,120. Rather than do something “fun” with that money, Americans should use their refunds to save or pay down debt.