Comment on Will California become another Michigan?

Will California become another Michigan?

Has California's recession-wracked economy finally bottomed out and begun to recover, albeit slowly? Or has California become another Michigan, doomed to a semi-permanent state of economic malaise? Gov. Jerry Brown adopts the former version in his revised state budget. He calls it a "modest drawn-out recovery" and cites "positive economic signs" such as a fractionally declining unemployment rate, growth in manufacturing and rising exports from the state.

 

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