Michigan Miracle – In Spite of the GOP
January 4, 2012
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Michigan May See $1B Surplus This Year
How about that for a headline. Who would have imagined that just a few years ago? And guess what? The Michigan Senate Fiscal Agency “credited the resurgence of the U.S. auto industry for aiding the state’s recovery.” This is the same industry the Republicans insisted should be allowed to collapse. It was just about 36 months ago that GOP Senator Jon Kyle proclaimed that the federal government loans to Detroit’s car makers “just puts off for six months or so the day of reckoning.”
Well, the “inevitable” Republican doom has failed to happen and hundreds of thousands of working Michiganders are thankful that those loans went through. Jobs saved and created, businesses saved, a state emerging from economic disaster at the cost of….. about two months of war in Afghanistan.
Even President wannabe, Mitt Romney, at one point opposed aid to the auto industry in not so prescient terms: “If General Motors, Ford and Chrysler get the bailout that their chief executives asked for yesterday, you can kiss the American automotive industry goodbye.”
January 10, 2012 update: Since June of 2009, the American auto industry has added back over 170,000 jobs.