Michigan snowballs downhill
A report on Michigan’s downward economic spiral and outmigration at Detroit News. Michigan has lost population equivalent to the size of its three largest cities over the past eight years. Half of all Michigan college graduates leave the state. Have you noticed those “come to Michigan” ads on TV? Now you know why. Ohio, Indiana, and Michigan seem to have been hit hard by the economic downturn. Too bad the Democrats didn’t focus on stimulating employment in their “stimulus” bill.
General Motors’ restructuring is unlikely to help Michigan’s downward spiral. Why won’t President Obama support GM’s transition plan? Bloomberg reports on GM’s finances and Obama’s refusal to give GM more time to restructure its debt for equity.
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