From Businessweek:
Michigan Governor Rick Snyder, a Republican, broke with his party’s presidential contenders just hours before yesterday’s debate began by saying he believed the bailout worked.
“It wasn’t just one or two companies at risk, but the entire national supply chain,” Snyder told the Detroit News. “Losing that would have had a devastating impact on the economy.”
The auto industry’s post-bailout comeback is one reason that Michigan’s economy is recovering from the recession at the second-fastest pace in the U.S., lifted by reviving carmakers and local manufacturers, according to a new Bloomberg index that tracks the pace of states’ growth.