Mich. stares down 2nd govt. shutdown in 3 years

By KATHY BARKS HOFFMAN, Associated Press Writer – 43 mins ago

LAINGSBURG, Mich. – Economically beleaguered Michigan faces a possible government shutdown — shuttering highway rest areas, state parks, construction projects and the state lottery — if lawmakers fail to reach a budget deal by next week.

The state with the nation's highest unemployment rate has a nearly $3 billion shortfall. Federal recovery act money will fill more than half the gap, but the spending cuts or tax increases needed to fill the rest have caused bitter infighting at the state Capitol.

Source:

news.yahoo.com...


Just giving everyone an update with how bad the situation in the US is looking with the economy. The forecasts by Ben Bernake and other US experts change each week about whether or not we are doing better. Numbers don't lie and this story shows some of that.


-Sliadon

Sorry to self bump, but nothing to comment on this guys?

From the same article,

"It's the same thing that happened in 2007. The game has become more important than the results. Having an issue has become more important than having a solution," he said. "That's not the way democracy was designed to work."

They are admitting to the fact they are more worried about continuing this political game then solving their economic crisis!


-Sliadon

Originally posted by Sliadon



Just giving everyone an update with how bad the situation in the US is looking with the economy. The forecasts by Ben Bernake and other US experts change each week about whether or not we are doing better. Numbers don't lie and this story shows some of that.

Michigan is by no means a barometer of the condition of the US economy. The economy is great where I live. Does that also mean the US economy is in great shape?

Thanks for posting this...I had gave it a passing thought, but...

Indeed things are getting dire here in Michigan...

I'm in Jackson...a district with the highest unemployment rate in the Country at 15.1%...from a height of 16% last month...

Jobless rate dips in Jackson
mlive.com

Here's some info on our area...

Economy at a Glance
www.bls.gov...

Our town is expecting large losses to our state revenue sharing platform and deep cuts are expected...

Michigan budget panel plans to cut payments to cities
mlive.com

Recently our Fire Chief resigned over funding/staffing issues and the rumors are we are going to lose one of our three Fire Stations...

Fire chief's efforts are lauded
mlive.com

County parks are being phased out and shut down...

State cuts will affect police, courts and prison system
mlive.com

Educators brace for state cuts
mlive.com

Welfare families are looking at a $10 a month, per person reduction...

Possible cuts haunt agencies
mlive.com

SSI...State & Federal could be cut...nice...give us the first real COLA increase in years and take it away... :shk:

There is too much to go into details here, but, look through some of the States Newspapers...

At the rate things are going I expect us to go Bankrupt in the near future...

[edit on 9/26/2009 by Hx3_1963]

Originally posted by stevegmu
Michigan is by no means a barometer of the condition of the US economy.

Not at all Steve. However, one of the biggest facets of Michigan's economy is in the automotive industry. Also, the auto industry makes up just under 5% of the United States economy and we saw what has already happened with GM bankruptcy.

I think that we are experiencing a temporary rise overall in the US economy to be followed by more turbulent drops in the short run. We have not made any long term fixes to the mistakes we have been making the past 50 years in loans and bailouts and until we do the system will remain broke and continue to seem bleak.


-Sliadon

reply to post by Sliadon

Not only are we not correcting the mitigating depressive factor, we're increasing them, making the situation much, much worse.

This is going to be a long-term financial disaster until they drastically cut spending and drastically cut taxes.

The City of Jackson was once considered for the Capitol of Michigan...

We hosted the birth of the Republican Party...

We built one of the first cars here...the Jaxon...

We had the States largest Rail Yard...

We had the Worlds largest walled Prison...

We had Goodyear, Clark Equipment, Yardman, Sparton Electronics, Hayes-Albion, Hancock Industries...ton's of large manufacturers...

Notice the word had...

Now McDonalds employees, tired of Big Mac's, spend their ~checks~ at Burger King...

[edit on 9/26/2009 by Hx3_1963]

reply to post by Sliadon
What is in Lainsburg?

reply to post by Hx3_1963


You also had strong unions which strong-armed companies into contracts which would eventually cause those companies to go bankrupt or move manufacturing to China or Mexico.

reply to post by ggreg194


The city in Michigan where the story was written, just like sometimes stories about other states will be written outside of the epicenter of where the event is happening.


-Sliadon