Thursday, August 28, 2008

Ready to Export the "Michigan Miracle" to the Rest of America?

Below is a series of facts and information that exemplify what happens when government grows and takes more of your money out of the economy. The economy shrinks, there are fewer jobs, people make less money, poverty increases. But, guess what segment of the "economy" added jobs? That's right, government jobs.

This is the future of America under Democratic leadership. Higher taxes, bigger government, and a declining standard of living for all Americans.

  • Michigan
    was the only state where poverty rose last year, as well as the only one where
    incomes fell, according to U.S. Census Bureau.

  • The 2007 median income in Michigan
    was $47,950, down 1.2 percent or $596 from the 2006 median of $48,546. The
    state's nationwide ranking slid from 24th to 27th.

  • Nationwide, the median household income rose to $50,233, a modest increase
    of $665 from the previous year, although it was the third consecutive annual

  • They also showed Michigan's rate of "extreme poverty" — a yearly
    income of less than half the poverty threshold, or $10,325 for a family of four
    — jumped from 6 percent in 2006 to 6.5 percent last year. Eight years ago, the
    rate was 4.8 percent.

  • Detroit's poverty rate rose to 33.8% making
    it the poorest city in America
    with a population of 250,000 or more.

  • Michigan's unemployment rate held steady in July, but the state continued to lose jobs. 

  • Michigan has had the nation's highest average annual unemployment rate since 2006.

  • Total employment in Michigan has declined every month since January.
    About 29,000 fewer people were employed in July than the prior month.

  • About 5,000 jobs were lost in professional and business services.
    About 4,000 jobs were lost in leisure and hospitality services, while
    another 4,000 jobs were lost in the trade, transportation and utilities
    sector of the economy.

Government was the biggest job gainer, adding 5,000 positions.

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