Michigan has the second-fastest growing economy in the nation according to a new Bloomberg state index, and you can thank President Obama and the Democrats in Congress for saving the auto industry for it, period, end of story.
Michigan’s economy is recovering from the recession at the second-fastest pace in the U.S., lifted by reviving carmakers and local manufacturers, according to a new Bloomberg index that tracks the pace of state growth.
The home to the U.S. automobile industry was topped only by North Dakota, where an oil boom is raising incomes and boosting government coffers at the nation’s quickest rate. California, Massachusetts and Illinois round out the top five in the Bloomberg Economic Evaluation of States Index, which uses data on real estate, jobs, taxes and stock prices to gauge the growth rate in 50 states and the District of Columbia.
Hmmm. Thought that California, Illinois and Massachusetts were so-called "high tax" states, but I digress. Anyhoo, here's the governor on Michigan's ranking:
Snyder, speaking on a conference call from Ottawa, Canada, said he's not taking – or giving credit – to anyone for the ranking, saying it came from a number of changes and factors over a period of time.
But he said lowering businesses taxes, eliminating the Michigan Business Tax and removing other barriers to growth played a role. The state's budget provides fiscal stability, eliminating one-time fixes and overspending, “paid down future liabilities and sends a strong signal to job providers that Michigan is open for business.”
“Who cares who gets the credit?” he said. “Michigan was at the bottom, and this shows we are headed in a very good economic direction.”
So, he's supposedly not taking or giving credit, but he makes sure to mention specifics on the budget. And if he is going to trot out the usual talking points on the budget, and not mention the auto industry as the prime driver of this recovery, we need to point out something. The timeline on the data collection, to be more precise.
Fifteen states are showing signs of economic stress, even after the 18-month recession ended in June 2009, according to BEES data comparing the 12 months ended June 30 with the year-earlier period.
That would be June 30th, 2011. Date Snyder signed next year's budget? June 21st, 2011. Nine whole days changes everything? Well, no. Some tax changes went into effect as of the new fiscal year that started October 1st, others take effect on January 1st of next year - all of which are, of course, well after the June 30th end date.
Meaning, Snyder's budget did not "play a role" in this ranking whatsoever, but he sure is turning into quite the politician, isn't he. Way to play the media. And mislead the public. Back to Bloomberg:
Michigan is benefitting from gains in the U.S. automobile industry, which is reviving after Obama led an $82 billion bailout and General Motors Co. and Chrysler Group LLC emerged from bankruptcy.
Don't know how many times we have to say it...