Thursday, January 11, 2007

Michigan Republican economic talking point bites the dust

Someone get Mike Bishop on the phone. He needs to scratch "single state recession" from his list of Pub excuses for more tax cuts.

DETROIT -- An influential financial analyst dismissed recent declarations that Michigan's economy is mired in a one-state recession or even a depression.

"The short answer is no," said David Sowerby, vice president of the investment firm Loomis Sayles Co. in Bloomfield Hills, addressing the Detroit Downtown Partnership during a Wednesday breakfast at the Detroit Athletic Club.

"The gross state product grew in '06, although only by less than 1 percent. But describing Michigan's economy in recession or depression would suggest no growth at all," Sowerby noted.

Had a feeling it was hyperbole all along.

It also begs the question: What ELSE are the Republicans exaggerating when they make economic claims such as this? The list is long, and perhaps every single one of them should be scrutinized for authenticity.

You can start with the Mackinac Center. It would be a field day.