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    Who are the NERD fund donors Mr Snyder?

    Raise the curtain.

    Detroit Free Press: Granholm Has Been A Nightmare


    By Theblogprof, Section News
    Posted on Sat Jun 06, 2009 at 11:42:48 PM EST
    Tags: Granholm, Michigan, yaxes, fair tax (all tags)

    Cross-posted at theblogprof

    OK - that's not exactly what they said. It's more subtle but basically they let through a quote that said as much. The article is titled: State's economic recovery expected to start next year.

    Comerica Bank's chief economist predicted Friday that Michigan's battered economy will finally start to recover next year, aided by a rebound in the national economy.

    "This long nightmare now in its sixth year ... the end is going to be in 2010," Dana Johnson told a large crowd of the bank's business clients gathered at the Oakland Hills Country Club in Bloomfield Hills.

    Johnson's forecast came despite a grim prognosis for the ailing state. He expects Michigan's real gross domestic product -- the inflation-adjusted value of all goods and services produced in the state -- to drop by 4% to 5% this year, compared with a 1.5% decline in 2008.

    And Michigan could shed 50,000 to 60,000 more auto and auto parts manufacturing jobs, up from the 33,000 that were lost last year.

    So many factories have closed that auto manufacturing jobs now only account for 2.9% of the state's total nonfarm jobs, compared with 6.9% at the start of the decade.

    Johnson said it's important that the state create a business environment that nurtures growth, reminding the audience that innovative, job-creating companies like Google Inc. can spring up unexpectedly.

    "This long nightmare now in its sixth year..." What happened around 6 years ago? Thinking... thinking...

    Oh yeah - the Granholm inauguration! This must have squeaked by the freep sensors, but what Comerica's chief economist basically said is that Granholm's handling of the economy had been a nightmare. And he's absolutely correct!

    How does one create "a business environment that nurtures growth?" How about getting rid of the MBT and it's ugly cousin the MBT surcharge? How about getting rid of income taxes entirely, as it is a disincentive to generate income? All of these taxes can be replaced by a fair tax. MI Fair Tax has a decent website, so go check it out, but here's the gist of it: Of course, it won't make as much of a difference as I would like without spending cuts. Spending has simply been out of control. During the last 6 'nightmare' years, spending has increased every single year at the same time as jobs have been lost, again every single year.  You could just see the trainwreck developing. It was unsustainable then and it has come time to pay the piper.

    That being said, it's hard to imagine Michigan coming out of this 6-year recession until Granholm leaves office. So we're talking 2011, not 2010. And that's at the earliest. Johnson seems to be under the illusion that Michigan's economy will follow the nations. that has proven not to be so the last 6 years as we have remained in recession during good economic times elsewhere. In addition, the national economic outlook is worsening. (U.S. jobless rate jumps to 9.4 percent; stimulus a proven failure; MSM whitewashing) The 2010 election cannot come soon enough!

    < No Graduated Income Tax | Lt. Governor Cherry Is Living In Denial >


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    Up So Soon? (none / 0) (#1)
    by kenmatesevac on Sun Jun 07, 2009 at 03:23:18 PM EST
    Correct me if I'm missing something, but it seems that the bulk of the hard data shared in the article would lead to the conclusion that Michigan's economy will continue to move downward for at least the next couple years.  Heaven help us if the Democrats are still in charge for the years beyond 2010!

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