2012 ‘We refused to let Detroit go bankrupt‘
2013
The city of Detroit filed the largest municipal bankruptcy case in U.S. history Thursday afternoon, culminating a decades-long slide that transformed the nation’s iconic industrial town into a model of urban decline crippled by population loss, a dwindling tax base and financial problems.
The 16-page petition was filed in U.S. Bankruptcy Court in Detroit.
Detroit files largest municipal bankruptcy case in U.S. history | The Detroit News
A triumph for World Socialism.
And a model for America as a whole.
Every Dem-ruled city and state has declined rapidly in recent years.
When will the Dem news media investigate this? The people need to know!
Waiing for Obama to fess up with.. “you didn’t bankrupt Detroit. Somebody else made that happen”.
Had Detroit been allowed to work through a bankruptcy 5 years ago as Romney had suggested they would be heading toward solvency (well if Romney was Prez) now.
You all may find the coverage of this story from the perspective of Canada’s national financial newspaper.
http://business.financialpost.com/2013/07/18/detroit-bankruptcy/
The comments are illustrating of how your neighbours see things.
You would see similar comments is a US financial paper…after all, they are read by folks who realize bankers run things.
One of the biggest lies out there is that GM and Chrylser were saved due to Obama. When they in fact went bankrupt, vaporizing billions in taxpayer dollars. But of course the media pretended it didn’t happen so he could make ridiculous claims in his re-election bid.
We have to be careful here. In this context, when Obama says “Detroit” he is talking about the auto companies. It is still a lie. General Motors went through the largest bankruptcy (Chapter 11) in history on June 1, 2009.
City revenues are booming because of Obama’s auto industry success.
It depends on what is is.
Sometimes I wonder if the US isn’t a nation at all, but just a random collection of nuts.
http://projects.propublica.org/bailout/list
Detroit under water … must be proof the glaciers are melting
Detroitification: The long process of hollowing out a private economy to prop up an unsustainable government.
6 of the 10 top employers in 2011 were government entities.
http://www.mackinac.org/14382
Big tax increase, mainly on businesses in 2007 in Michigan. Surprisingly there was a big exodus of businesses and even people under Gov. Granholm.
http://online.wsj.com/article/SB10001424052748704322004574477363965641226.html
Yeah, they even tried making out-of-state (non Michigan) companies collect Michigan sales tax. Our accountant sent that tax bill to our state representative (Ohio) who proceeded to make a huge stink about it and we never heard another peep outta the Michigan tax-parasites.
Trillions of stimulus, shovel ready jobs and we could not save Detroit?
Oh yeah Barack your bet is paying off! Its no wonder the credit rating of the US was downgraded during your tenure! PLEASE get out of the people’s house, your unfit to reside there!
Flashback: “Romney would have let Detroit go bankrupt”. Biden
This is one of the core tenets of Socialism, spreading the pain around, removing personal responsibility.
Bail out Detroit and they get to start all over again. This is important for Socialists because it means they can go on experimenting in the big cities and be absolved of any possible accountability.
Reblogged this on The Firewall.