According to Bloomberg, the Federal Reserve of Philadelphia is projecting that Michigan, the epicenter of President Obama’s socialist takeover, is expected to lead the nation in economic growth over the next six months.
From northern Michigan’s iron mines to Pennsylvania’s natural-gas fields, the industrial heartland of America is humming with jobs again as a region once left for dead recovers faster than the rest of the U.S. [...]
The economies of Michigan, Indiana, Ohio and Pennsylvania — all states Obama won in 2008 — have improved faster than that of the U.S. since the recession’s depth in April 2009, according to the Philadelphia Federal Reserve. Michigan is expected to lead all 50 states during the next six months, the Fed data show. [...]
Economic recovery in so-called Rust Belt states may bolster re-election chances for Obama, who pushed the U.S.-backed bailout of General Motors Co. (GM) and Chrysler Group LLC, both based in Michigan.
It’s not a stretch to say that if the president had followed Mitt Romney’s advice, we would not be reading the same story.
Let Detroit Go Bankrupt
IF General Motors, Ford and Chrysler get the bailout that their chief executives asked for yesterday, you can kiss the American automotive industry goodbye. It won’t go overnight, but its demise will be virtually guaranteed.
Without that bailout, Detroit will need to drastically restructure itself. With it, the automakers will stay the course — the suicidal course of declining market shares, insurmountable labor and retiree burdens, technology atrophy, product inferiority and never-ending job losses. Detroit needs a turnaround, not a check.
Good job, Mitt. You sure called that one.