Forbes.com has released a story on the best and worst cities for economic recovery.Care to guess where Flint came in?Of course,dead last.
Flint, Michigan
(Longest Road to Recovery)
GDP at start of recession: $10.96 billionEnd of 2010: $9.25 billion (-15.6%, projected)Unemployment: 14.2%Median home/median salary ratio: 1.5
Nowhere has been hurt by the recession more than Flint. Once an automotive center, the city's economy is projected to shrink by a Depression-like -15.6% from the start of the recession to the end of 2010. (A 10% decline of GDP is sometimes cited as a rule of thumb for depression.) Moody's estimates that Flint will not recover to its pre-recession size in the next decade.
Outsiders can clearly see the picture here yet the Granholm administration spews out the green shoots promises of Obama.Wouldn't it be nice to see our leaders realize the depth of the problem and begin the drastic steps necessary to enact changes?More to come...
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