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Saturday, December 30, 2006

Gloomy Economic Forecast for Michigan


(Cross posted in Candy Land.)

Despite Candice Miller's high praise for the economy in a September, 2004 House of Representative Floor Speech, Michigan's economy is floundering. An article in the Port Huron Times Herald published today paints a grim picture of Michigan's economy.


Times Herald "money" quotes:

"Although hiring is expected to increase during the first quarter of next year, the long-term economic forecast for Michigan in 2007 and 2008 is bleak, according to some economists."
..........

" Manpower found automotive companies and auto parts suppliers are unlikely to add to their staffs in 2007, said spokeswoman Debbie Thierry.

Locally, automotive suppliers have suffered losses at the hands of the Big Three, which are reducing their staffs through layoffs and buyout programs.

The state's unemployment rate dropped from 7.2% in November 2005 to 6.9% in November of this year. The rate is expected to rise again in 2007 and 2008, economists from University of Michigan in Ann Arbor predicted in a November study. The prediction calls for Michigan's unemployment rate to rise to an average of 7.5% in 2007 and to 7.7% in 2008 - the highest rate since 1992. The economists predicted the state will lose 29,700 jobs in 2007 and 15,000 jobs in 2008. The auto industry will account for about 70% of the manufacturing job losses."


When reviewing Miller's voting record and discovering the lack of any action by Miller and her fellow GOP cut-taxes-and-spend-spend-spend Congressmen their priorities seem clear. Giving away money to Big Pharma, Big Oil, the Insurance Industry, and anyone else that fills the Republican campaign coffers is "Job 1". Helping to improve the economy in Michigan falls last in Candice Miler's list of things to do.


So, let us recall that 2004 Floor Speech:


"Mr. Speaker, the U.S. economy keeps on growing and creating new jobs. Last month alone, 144,000 new jobs were created."


And:

" The U.S. economy has created jobs in each of the last 12 months for a total of nearly 1.7 million new jobs. The unemployment rate has fallen to 5.4 percent, which is about the same as in 1996..."


Finally:

"...thanks to the leadership of our great President George W. Bush and the majority of the Republicans in Congress, our economy is strong and getting stronger."

The entire speech can be found here -- courtesy of Project Vote Smart.


Well, Candy, what will you do for Michigan in the 110th Congress?

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