Granholm's Vision: Boost State Economy: $2 billion wanted for tech investing
LANSING -- Gov. Jennifer Granholm wants to sell $2 billion in state bonds over 10 years to invest in high-tech industries that she said are the economic salvation for an automotive-reliant state with one of the nation's worst unemployment rates.

Granholm, in her State of the State address Tuesday, said the $2-billion infusion to private industry and universities would generate 72,000 new jobs and is the centerpiece of a plan to diversify the state's economy, while maintaining its historic connection to the auto industry.

The bond money would be aimed largely at research for the auto industry -- particularly the development of fuel-cell power -- as well as health-related technology and products used for homeland security to prevent terrorist acts and other threats to the nation, Granholm said.

The bond sale plan and Granholm's speech reflected her concern that a major jolt is needed to jump-start a state economy that economists say is chronically underperforming and which poses political hazards for Granholm midway into her first term as governor.

In California, voters approved a $3-billion bond for stem-cell research in November, and states all over the country -- including New York, New Jersey, Wisconsin and Maryland -- are at various stages of developing programs they believe will make them leaders in a new biotech economy.

Some vehicle futurists consider fuel cells, which generate electricity by combining oxygen with pure hydrogen, as an ultimate power source for cars that are both clean-burning and could wean the United States from relying on foreign oil.

"Michigan, the Great Lakes state, could be the state that finally makes the United States independent of foreign oil," she said.

Good luck, Jennifer. It's a great proposal. I hope that the "More tax cuts! Squawwwwk!" Republicans in this state can pull their heads out of their asses and get on board with this forward-moving legislation.

Granholm acknowledged the state's economic doldrums, while she also touted her accomplishments in maintaining health care for the needy and streamlining state government, while avoiding $3 billion in budget deficits.

More details of Granholm's agenda will come on Thursday, when she presents her budget proposals for next year and pins dollars on programs, as she attempts to avoid both tax increases and deep cuts to favored programs in health care and education. Parts of Granholm's speech were met with stony silence by Republican lawmakers in the House chamber, and by outright hostility afterward.

Senate Majority Leader Ken Sikkema, R-Wyoming, offered scathing criticism of the governor's plan to seek voter approval of $2 billion in bonds.

"The fundamental vision here is a very troubling one," Sikkema said. " This is not 'jobs today and jobs tomorrow' but 'debt today and debt tomorrow.' "

But I bet Mr. Sikkema has no problem with Mr. Bush's 'debt today, debt tomorrow' policies.

And, how can the "fundamental vision" be a troubling one? Competing with other states that are already moving forward into new technology is troubling? Creating good paying jobs is troubling? Providing more incentives for education of Michigan workers is troubling? How about the $3 billion dollars already slashed from state spending? Isn't "less spending" your tune? Or are you just troubled that she's done a great job while you guys have no new ideas? Or how about those 32 tax cuts that we have already passed? How about the big tax cut coming for businesses, is that troubling also? Why were you guys sitting on your hands when she announced something that you tout?

What do you propose, Mr. Sikkema? I'll bet it's yet more tax cuts for the wealthy, isn't it? Just a hunch.

It's pretty obvious that the Republicans in Michigan would like to turn this into a low-wage state, make more money for their buddies while the citizens of Michigan grow poorer and sicker. As on the national level, they don't give a shit about people. They only care about protecting their big-money contributors.