Hurry! Hurry! Step right up to witness the one, the only, Amazing, Shrinking Budget!

Just when you thought things couldn't get worse, they did. Economists announced Tuesday that the state budget will be about $900 million short, despite year-long repair efforts by Gov. Jennifer Granholm and state lawmakers.

Unfortunately, this means tightening the state's belt another notch, which is bad news for already funding-starved universities. Higher education officials spent the last year slashing excess fat by cutting classes and jobs.

A total of $1 billion was sliced by lawmakers during the year, leaving programs and employees dizzy with losses.

Arts programs alone lost 50 percent of funding while bonuses for state employees were completely eliminated.

The public should see this as a warning. Everyone really should start keeping an eye on their money and spend wisely. Universities across the state already have done what they can and probably will be asked to do more, so it is important for the surrounding communities and student population to help out by being smart with their money.

Perhaps Michigan lawmakers should have thought twice before giving themselves a 38-percent pay raise two years ago.

The economy already was on its way down in 2001, and lawmakers should have been willing to share in taking cuts to income.

It was hypocritical for them to take more for themselves when they were asking others to give up so much.

Last year, Granholm and other state officials took pay cuts in order to give back to the state during hard times, but that might be too little, too late.

It's almost comical to say the economy is stable when so many are jobless and next year will bring even more budget cuts.

Excess fat has already been hacked away - the next step is to start severing limbs.