NAVIGATION
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NEWS TIPS!RightMichigan.com
Who are the NERD fund donors Mr Snyder?Tweets about "#RightMi, -YoungLibertyMI, -dennislennox,"
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Is That A Sucking Sound I Hear?By JGillman, Section News
To Meet the legal obligation and receive $125,000,000.00 from Michigan Taxpayers, A123 needs to create only how many jobs? In a Capitol Confidential piece today, Tom McMillin says:
McMillin poured through the legal documents on the deal and said that the company only needs to create 300 jobs by Dec. 31, 2016 to get most of the state money and doesn't need to create a single job to get the $249 million in federal aid. A123 Systems would have to create 350 fulltime jobs by August 2012 to have a $4 million loan forgiven.
Unless my calculator app on this PC has another one of those floating point problems of yore, I see $416,666 that Michigan taxpayers are paying per each required job in addition to the two times that of federal money.
How on earth can ANY government justify paying that kind of money for 300 $30K/yr jobs?
Unless that government is TRYING to destroy itself on purpose. Somehow the scythe of economic reality has only nicked our state in the last 11 years. Yeah.. I said it. The MEDC, formed in 1999, is the antithesis to sound state financial management. Its very existence offers only an occasional opportunity for a political fanfare event, that is followed by silence of effective action. The major plans it commits to have never seemed to materialize the projected employment gain claims that accompanied the fanfare. To nourish itself it cuts off an arm or a leg of our economy, purporting to grow a finger. Soon, there will be nothing left. I suppose if you were Granholm, you might want a worse condition on the horizon to make your own miserable failures seem pleasant in contrast. The resilience of Michiganders should be commended, but the unwillingness to stand up against such incompetence begets an opinion, (at least from this writer) that many folks in this state must surely still believe in Santa Claus, the Tooth Fairy, or even Tinkerbell. We cannot pixie dust our way out of this. A non stop call for the dissolution of the MEDC is paramount. The failure of accountability for results from such programs pales especially in the face of numbers as seen with the battery manufacturing operation that on its FACE is ridiculous. The big pile of money to subsidize a company that doesn't seem able to mange a profit does not promise great results for Michigan. The continued use of the MEDC or other economic stimulus programs for the political benefit of a few elected officials must end, and the sooner the better.
Is That A Sucking Sound I Hear? | 9 comments (9 topical, 0 hidden)
Is That A Sucking Sound I Hear? | 9 comments (9 topical, 0 hidden)
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