A state of recovery? Michigan edition.

July 15, 2010

As part of a nationwide “recovery summer” tour, on Thursday President Obama will visit the Compact Power battery plant in Holland, Michigan to discuss the American Recovery and Reinvestment Act (aka the “stimulus”) and Washington’s plan for the road ahead. Below are some facts to consider:

Michigan’s share of the $862-billion “stimulus” bill awarded: $7,136,790,000
(=3.5% of the $202 billion that has already been given to states).

Michigan’s share of the population = 3.2%

Michigan’s unemployment rate was 12.0% when the “stimulus” was enacted in February 2009; currently it is 13.6%.

Michigan’s 13.6% unemployment rate is the second highest in the nation and is significantly higher than the national average of 9.5%.

The number of employed people in the Michigan fell from 4.334 million when the stimulus bill was enacted, to 4.222 million currently.  This translates to 112,707 jobs lost.

For FY2011, Michigan’s estimated budget shortfall is $2.0 billion.

Michigan’s number of foreclosed homes was 12,564 when the “stimulus” was enacted; today that number has grown to 20,322.

Here are some examples of Michigan’s use of the stimulus money that we’ve collected at bankruptingamerica.org:

Detroit has received $170 million of stimulus money but has only spent $16.8 million.  Most of the grants require local governments to spend money up front and be reimbursed.  Since the city has a deficit of $330 million, it hasn’t been able to afford to spend the money.

$3.8 million was appropriated for the Old Tiger Stadium Conservancy – a group dedicated to finding a new use for the Detroit Tigers’ former stadium. However, much of the ballpark was demolished in 2008.

$7.5 million of federal funds were used for a new terminal with stone fireplaces and exposed log beams in a tiny northern Michigan airport.  The airport serves an average of only 72 departing passengers a day.

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3 Responses to A state of recovery? Michigan edition.

  1. Maren Gaglio says:

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  2. Maren Gaglio says:

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  3. Maren Gaglio says:

    Hey i just thought I should leave a comment as i really likeyour website its so interesting, keep it up!

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