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Michigan’s Economy Explodes To Highest Point In A Decade
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Another sign that Romney failed his home state of Michigan (and why Michiganders should support President Obama) is the latest economic index that came out today.
Comerica Bank is reporting, Comerica Bank’s Michigan Economic Activity Index surged ahead by 2.0 points in July, rising to a level of 107.9.
“The Michigan economy accelerated rapidly this summer, driving our Michigan Economic Activity Index up a total of 5.9 points from May through July. July marks the highest reading for the Michigan economy since November 2002,” said Robert Dye, Chief Economist at Comerica Bank. “Job creation picked up again in July, while housing markets are showing signs of improvement with sales and prices increasing. August U.S. vehicle sales picked back up to a 14.5 million unit rate and that is encouraging.”
Housing is also in recovery in Michigan, probably due to the increase in auto manufacturing and economic stability.
The problem for Mitt Romney and the Republicans is the reality of the economy is not fitting into the rhetoric they are spewing to the American people.
President Obama is not only facing an obstructionist Republican congress, but also a slow global economic recovery.
This is the issue the Republicans just don’t understand about simple economics, or they just don’t tell the American people. When you buy into the global economy, you can not expect the global economy not to effect you domestically. President Obama has steered the American economic ship through the murkiest waters anyone has ever seen in almost 100 years.
On top of this is the fact that he had to contend with a domestic issue of a political party that puts politics ahead of good policy. It is a double whammy, per se.
That last point is something new to American politics of the last century. Reagan had a cooperative Democratic congress as did Roosevelt for some time. President Obama didn’t have this luxury.
So even through all this murkiness, Michigan is pulling ahead, partly due to the leadership of President Obama. Not since 2002 has Michigan had this type of economic performance. It’s been a decade, but Michigan is finally moving forward.
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7 Responses to Michigan’s Economy Explodes To Highest Point In A Decade
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Beverly
Sep. 24th, 2012 at 12:20 pm
I live in Michigan and can attest to this fact. There are job fairs and hiring is going up. Thanks President Obama!!
JJM
Sep. 24th, 2012 at 12:33 pm
There goes MI for Mitt….
ourdad
Sep. 24th, 2012 at 1:27 pm
George Romney may have been a good guy? He sure as hell raised a spoiled rich brat for a kid who never had to work hard for anything. He just don’t get it. Every State is doing better since G.W.B left office. Hope this article gets picked up by the mainstream media for all the Romney na sayers to hear.
Rudy Gonzales
Sep. 24th, 2012 at 7:57 pm
Romney would have allowed the US Auto industry to go belly-up. Then he could use his massive leverage of money to buy at a steal the companies, outsource manufacturing, fire everyone he could and bankrupt the rest while off-shoring money to hide from the tax man and his church. Women are from Venus, Men are from Mars and Romney is from the “Dark Side!”
Albie Pabon
Sep. 24th, 2012 at 11:39 pm
Michigan simply needed a shot in the arm that was provided by Mr.Obama’s gamble on the effects of a renewed auto industry. I have seen the numbers but Ohio should see a sizable upward tick as well. Now if the Mom & Pops and other entrepreneurs would start up, the economy would percolate at a much better pace. I’m excited for the area.
Eric
Sep. 26th, 2012 at 10:02 am
Is this Obama? Or Gov Snyder? Soledad O’Brien tried to slam this point home when it came out that most of the best states economically were run by, and had been run by, Republicans. She argued that it was because of Obama these states were doing good. That is until the Wisconsin (IIRC) governor asked in return, “If Obama is responsible for the 7 good states, shouldn’t we hold him responsible for the 43 poor states?”
Eric
Sep. 26th, 2012 at 10:16 am
I also love how the writer fails to address even one reason as to why this upturn is because of Obama. All of you are sitting there beaming at him like he’s your high school crush strutting down the hallway.
“So even through all this murkiness, Michigan is pulling ahead, partly due to the leadership of President Obama.”
What did he do to turn Michigan around? Which policies of his helped turn Michigan around? Michigan now has a $457 million surplus because of the tax reforms pushed for by Snyder (business to corporate income).
This whole website seems more like a blog than actual news site.