Loan Modification Forum - LoanSafe.org - View Single Post

sarge · 06-12-2009, 11:33 AM

Thought I would post the news for you Michigan folks since it involves your state.

KALAMAZOO – Michigan will receive an extra $2 billion boost from the federal government to help weather the restructuring of the domestic auto industry and create new jobs, Vice President Joe Biden announced today. The $2 billion is in addition to the $7 billion in federal stimulus money already headed to the state.

And Wayne, Oakland and Macomb counties will be the biggest beneficiaries.

Biden said the U.S. Department of Treasury will issue $2 billion in bonds for Michigan – called recovery zone bonds – which drew whoops of joy from Gov. Jennifer Granholm, who hugged Biden on the outdoor stage before a crowd of about 200 at a Kalamazoo high school. The site overlooked a stretch of I-94 that will undergo a$48 million reconstruction, with four new bridges, paid for with federal stimulus money.

Biden said the recovery bonds will be targeted to states most hard-hit by the economy. Biden said the three metro Detroit counties will be among the top 10 counties in the U.S. in the amount they receive under the new program.

Biden said Michigan should be at the center of a national recovery, and touted the road construction project as a sign of economic opportunithy the stimulus money is bringing across the country. Biden said Michigan has suffered more than any other state from the national recession, and praised Granholm for what he called her enduring optimism and efforts to bring new jobs to the state

He predicted that General Motors will emerge from bankruptcy “relatively quickly,” and said it was critical that President Barack Obama decided to try to keep GM and Chrysler out of liquidation, which would have cost a million U.S. jobs.

“This is a time of transitions, new beginnings,” Biden told about 200 listeners, including about two dozen road construction workers from the new I-94 project at Westnedge Road, a main road leading to Kalamazoo. “We’ve got to look forward, which we are doing.

“We’re doing everything we can to get Michigan back on its feet, standing taller than it ever has to the country into the 21st Century, like it you did in the 20th Century,” Biden said.

Steve Smalla of Allegan, a member of operating engineers union working on the I-94 project, said he was grateful for the federal money that will pay for it. “We look forward to the money and the good jobs here in Michigan.”

Biden was also joined by U.S. secretary of Transportation, Ray LaHood, Lt. Gov. John Cherry, and U.S. Sens. Carl Levin and Debbie Stabenow.

Biden’s Kalamazoo stop was part of a two-day tour to Pennsylvania, Kansas and Michigan to promote the administration’s pouring of billions of dollars into road projects around the U.S.

06-12-2009, 11:33 AM	#64 (permalink)
sarge Senior Member Join Date: Mar 2009 Location: Coastal NC Posts: 307 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Naca dropped the ball!! Thought I would post the news for you Michigan folks since it involves your state. KALAMAZOO – Michigan will receive an extra $2 billion boost from the federal government to help weather the restructuring of the domestic auto industry and create new jobs, Vice President Joe Biden announced today. The $2 billion is in addition to the $7 billion in federal stimulus money already headed to the state. And Wayne, Oakland and Macomb counties will be the biggest beneficiaries. Biden said the U.S. Department of Treasury will issue $2 billion in bonds for Michigan – called recovery zone bonds – which drew whoops of joy from Gov. Jennifer Granholm, who hugged Biden on the outdoor stage before a crowd of about 200 at a Kalamazoo high school. The site overlooked a stretch of I-94 that will undergo a$48 million reconstruction, with four new bridges, paid for with federal stimulus money. Biden said the recovery bonds will be targeted to states most hard-hit by the economy. Biden said the three metro Detroit counties will be among the top 10 counties in the U.S. in the amount they receive under the new program. Biden said Michigan should be at the center of a national recovery, and touted the road construction project as a sign of economic opportunithy the stimulus money is bringing across the country. Biden said Michigan has suffered more than any other state from the national recession, and praised Granholm for what he called her enduring optimism and efforts to bring new jobs to the state He predicted that General Motors will emerge from bankruptcy “relatively quickly,” and said it was critical that President Barack Obama decided to try to keep GM and Chrysler out of liquidation, which would have cost a million U.S. jobs. “This is a time of transitions, new beginnings,” Biden told about 200 listeners, including about two dozen road construction workers from the new I-94 project at Westnedge Road, a main road leading to Kalamazoo. “We’ve got to look forward, which we are doing. “We’re doing everything we can to get Michigan back on its feet, standing taller than it ever has to the country into the 21st Century, like it you did in the 20th Century,” Biden said. Steve Smalla of Allegan, a member of operating engineers union working on the I-94 project, said he was grateful for the federal money that will pay for it. “We look forward to the money and the good jobs here in Michigan.” Biden was also joined by U.S. secretary of Transportation, Ray LaHood, Lt. Gov. John Cherry, and U.S. Sens. Carl Levin and Debbie Stabenow. Biden’s Kalamazoo stop was part of a two-day tour to Pennsylvania, Kansas and Michigan to promote the administration’s pouring of billions of dollars into road projects around the U.S.