Thursday, February 16, 2012

When Good News Is Bad News

A few more glimmers of hope are shining through the clouds that have enveloped our economy for far too long. These little bits of good news are clearly bad news for Republicans.

The recent news includes:

--A nearly four-year low in first-time claims for unemployment benefits.
--A rise in new home construction to start the year.
--A rise in consumer confidence, even among those still without jobs.
--Hefty profits in the auto sector, including a record $7.6 billion by GM, along with large profit-sharing checks for their employees.

Yes, there is bad economic news out there, too, and the recovery could be faster, but the good news is welcomed by most people. The exceptions? People like the remaining candidates for the Republican presidential nomination who are now making appearances in the state in advance of the Feb. 28 primary. Mitt Romney, for example, has the task of explaining why his prediction that a rescue of the auto industry would be its deathknell was so wrong.

While Romney does his explaining, GM and its employees will be paying taxes to Uncle Sam and the state of Michigan on profit and income that wouldn't have existed were it not for the rescue.

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