You could tell a pretty similar story about us. Our central bankers are setting policies that wealthy elites want. Michigan doesn't have any money improve its infrastructure or spend more on education. We have even greater labor mobility than Europe, at least in theory, so there will be outflows from high unemployment places to low unemployment places. This might make the unemployment numbers better in those states, but won't do much for state finances. With cutting all the rage in DC, odds are some of our much vaunted automatic stabilizers, such as federal Medicaid dollars, are going to shrink.
There's no plan for growth here either.
