MSU President M. Peter McPherson told an audience of faculty, students and parents Tuesday that even in the face of apparent budget cuts, MSU will not slow down.

"Indeed the nation and the state have major challenges ahead," he said in his Founders' Day Speech. "We are crafting the future of Michigan State as we manage through these difficult times."

McPherson said programs will most likely have to be restructured and MSU will be forced to make other major changes.

In his speech, McPherson said there are several touchstones MSU needs to maintain during the next year such as making responsible decisions for the university, meeting the obligations to future students, properly restructuring programs and allocating resources for growth.

"We must remind ourselves that the future generation will stand on our shoulders," he said.

For more on this story please see Wednesday's edition of The State News.