Michigan is the 2nd biggest borrower of unemployment money from the feds behind California. Michigan owes the feds almost $3.5 billion and the debt is progressively increasing. This debt is not being reported in the MSM. Michigan is essentially borrowing on a credit card like one of those “no interest, no payments for 2 years” plans at furniture and appliance shops.

Michigan is currently staring at yet another $2 billion hole for the FY 2011 budget that starts October 1. This is seemingly an endless cycle that started with the biggest tax increase in Michigan history in 2007 pushed through by Governor Granholm that was touted at the time as a permanent fix to the budget hole. The $2 billion budget gap doesn’t include a debt bomb that the local mainstream media has literally been ignoring, likely due to the fact that Granholm – by her own admission no less – is on pace to lose more than 1,000,000 jobs by the end of her second term. This is definitely not the kind of thing the liberal mainstream media wants to draw attention to in an election year.



February 23, 2010 - Posted by | Uncategorized

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