President-Elect Obama recently met with his team of economic advisors with the hopes of addressing the nation’s problems concerning the ailing economy. One of the advisors stood out above the rest and caught my attention. She is the Governor of Michigan, Jennifer Granholm, Canadian born American politician and a possible nominee to the U.S. Supreme Court, under an Obama administration.
I do not know if President-Elect Obama wants her advice on how to fix the economy or if he is using her administration as an example of what not to do. If he is seeking her advice on how to fix the nation’s problems then Heaven help us all because we might as well grab both ankles and take the pain about to be administered. If he is using the state of Michigan’s plight as what not to do, then I would say he is on the right track.
The state of Michigan’s economy is in ruins. Look at the auto industry who are hoping for a federal bail out and at our expense. Unemployment is at 8.7% as of September this year. In fact Michigan’s unemployment is higher than that of France. Things are so bad that Governor Granholm was desperate enough to grab Auto Theft Funds , paid by motorists to the Automobile Theft Prevention Authority. These funds which generate about $6.3 million in revenue were to be used to help nab car thieves but the Governor wanted to use them elsewhere.
This grab for monies, kind of remind me of what is being floated around Washington. Hijacking the 401k funds and incorporating them in with the Social Security Program. Doing this would certainly infuse a lot of money into a government run program. I can imagine how they would screw up the 401ks.
I am really praying that Obama has better sense to follow the advice of a governor whose state’s business tax is dragging down their economy. According to the Tax Foundation Commentary, “Michigan’s economy is a mess and most lawmakers agree the Single Business Tax is the reason why.”
I have no idea what President-elect Obama’s mind set is when it comes to Governor Granholm except that it may be time for some heavy duty political paybacks. We need to keep our eyes on this.