Michigan Economist Warns Strike Not Helping Economy

In Michigan where the economy is already in ruins, the Grand Rapids Press highlights warnings from University of Michigan economist Don Grimes about the nationwide UAW strike:

“It's not exactly what the state needs right now,” said University of Michigan economist Don Grimes. “You've got a train wreck in Detroit and a train wreck in Lansing. It's like a perfect storm.”

“The workers will be getting $200 a week in strike pay,” he said. “Before, they were earning $1,500 a week in pay.”

A $1,300 per-week pay cut is an awful lot to ask of these workers who have families to support. Meanwhile, GM looks to lose nearly $100 million per day due to the loss of production.

Looks like UAW bosses are hitting everyone where it hurts the most: their wallets.

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