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Economists: Granholm's economy worst since Great Depression!By Nick, Section News
Yikes. This can't be what the Granholm administration was hoping to hear from an Ann Arbor think tank. A recent study undertaken by a group of big brains down around the University of Michigan examined the State's biggest metropolitan areas along with the other big cities across the country to figure out where exactly the rest of the big brains are choosing to locate.
Remember, we keep hearing "jobs of tomorrow" this and "jobs of tomorrow" that. Which is a little more than slightly ironic since the Governor also continues to push for the FDA Defense repeal that could literally kill over fifty-thousand hi-tech, high paying jobs of today and tomorrow just to throw a little gravy to her buddies, the trial lawyers. So it's only fair to ask... how do we stack up before Granholm and Dillon get there way and kill five figures worth of the State's best jobs? If the Grand Rapids Press headline is any indication, the answer is 'not so good.' Their online report is titled "Report card: State lacking brain power." Like I said. Yikes.
Michigan fell 10 places among the states in per capita income to 26th between 2000 and 2006 -- the latest available year -- as it shed thousands of manufacturing jobs, according to the Michigan Future study.
The state's per capita income was 8 percent below the national average in 2006, the worst performance since the Great Depression year of 1933, according to figures for the study prepared by University of Michigan economist Don Grimes. That's an awfully stark and painful shift in language. We understand that Michigan is in a single state recession. We're used to the numbers that back that up. We're used to the ridiculously high unemployment rate. We're used to layoffs and plant closings across the State. We're used to all sorts of negative economic indicators and rankings and being 50th out of 50 (and sometimes 51st out of 51 when they work in the District of Columbia). But our economy is now, officially, according to big-time fancy economists in Jennifer Granholm's favorite city (outside Berkley, CA), performing at Great Depression levels. Very nice. Great job, Madame Governor. Where do we change the Constitution to allow you to become Queen of Michigan for life? With a performance record like that I just never want to let you get away. </sarcasm> It's just a shame that Ann Arbor doesn't rate a little bit higher on the population charts. I bet all of those fancy new Google jobs the Gov touted so proudly during the last gubernatorial campaign would tip the scales a bit more in our favor. Wait. Those were low wage call center jobs. Never mind. At least folks are working. Read on...
And maybe all isn't quite lost just yet either. Congress finally agreed last week on a new economic "stimulus" package that will be sending tax "rebates" to just about every man, woman and child ever born in the United States of America in the hopes of cutting off a possible national recession before it strikes. The Detroit News reports:
"It could result in a pretty substantial lift in spending concentrated in the second half of the year," said Dana Johnson, chief economist for Comerica Inc. That'd certainly be good news. No looking a gift horse in the mouth. Just as long as we remember that that's exactly what we've got here, though. A gift. The kind the federal government really shouldn't be giving out. You'll probably get a tax rebate. I'll probably get a tax rebate. But there are plenty of folks out there who don't pay a dime in taxes. They will be getting a gift. And guess who'll be paying for it... gotta love the redistribution of wealth. That said, there are a few folks in Michigan who could legitimately use that rebate. Though there are ways the "stimulus" package could have been improved. Back to The News:
"Historically, one-time events like rebates have less bang for the buck in fueling consumer spending compared to permanent tax cuts," Sowerby said. Permanent tax cuts. The next time anyone here talks to someone from out of state you'll have to ask what those are like. It's been a while since we saw one here in Michigan. Heck, we're going in the opposite direction. But that's OK. We don't need jobs and brainpower and economic growth. We have the Mayor of Detroit and his text message affair, firing of police officers, perjury and subsequent cover-up to keep us entertained while our jobs continue to evaporate. Bread and circuses. Bread and freaking circuses. No worries. Open up the big top. The Detroit Free Press, the newspaper that uncovered the text message scandal in the first place, seems to be working up the gumption to call for the Mayor to step down. They got really close over the weekend but just haven't quite crested that hill.
Yes, but how does the mayor think he's going to be able to get it done? See what they're saying? Without having to actually say it? Creative, boys and girls. That was creative. Does that op-ed come with a playful elbow jab, a wink and a nod? If you've got something to say just come out and say it. You certainly didn't have a problem laying out the reasons the man should step aside:
Speaking of elections, the mayor's problems likely make him more of a political liability than asset. The Democratic presidential candidate is unlikely to be zipping into Detroit to seek Kilpatrick's blessing. Consequently, that means the city's issues, which are in many ways the important issues facing urban America, get less of the national attention they need, and Detroit's clout is diminished. OK, OK. So the first reason there was better than the second. I'm sure I don't HAVE to remind the Ivory Tower but I will anyways. The Democrat presidential candidate is unlikely to be zipping into Detroit period. He or she hasn't visited yet and doesn't have any dates on the calendar between now and November. Remember, Michigan is persona non-grata. Heck, Hussein Obama's even got his people attempting to move the Great Lakes State into third world dictatorship territory by invalidating a legal election just because he doesn't like the results. Nothing says "I respect Michigan voters" like trying to invalidate legal, unchallenged, entirely accurate voting results. I think I liked it better when the man just ignored us.
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