Page 4 of 5 FirstFirst ... 2345 LastLast
Results 31 to 40 of 42

Thread: Detroit bankruptcy moves forward as judge rules city can shed debt

  1. #31
    Sage
    Anthony60's Avatar
    Join Date
    Mar 2013
    Location
    Northern New Jersey
    Last Seen
    Today @ 10:34 PM
    Gender
    Lean
    Conservative
    Posts
    7,574

    Re: Detroit bankruptcy moves forward as judge rules city can shed debt

    Quote Originally Posted by Kobie View Post
    Never mind, of course, that Michigan has a long record of Republican leadership on the state level. Part of Detroit's woes falls on the state, too, unless you're just going to blame Kwame Kilpatrick for EVERYTHING.

    That said, if you think the excesses of one particular set of politicians is somehow an indictment of liberal thought, then you're a hopeless partisan and it's useless attempting to engage in reasonable discourse with you.
    Hmm... I wonder what liberal wonder it was that Detroit just didn't have a high enough dose of? You know, what liberal policy was there not enough of that would have made Detroit the prosperous utopia that so many liberals claim is just around the corner, as long as they are allowed to run wild? Like in Detroit.

    Maybe they should have just really blasted those awful rich with much higher taxes? And don't forget those evil corporations, they should have been chipping in! Maybe they should have increased the minimum wage and unemployment benefits. Wait, FREE HEALTHCARE! That's it! Oh... if they only had just a few more decades, they would really show us what liberalism can do!

    Don't hold your breath.
    "We have met the enemy and they are ours..." -- Oliver Hazard Perry
    "I don't want a piece of you... I want the whole thing!" -- Bob Barker

  2. #32
    Sage
    Fenton's Avatar
    Join Date
    Nov 2012
    Last Seen
    Today @ 03:48 PM
    Gender
    Lean
    Conservative
    Posts
    26,324

    Re: Detroit bankruptcy moves forward as judge rules city can shed debt

    Quote Originally Posted by Verax View Post
    Yes, California has had some problems
    and its been a mixed bag. However if you look at everything overall they have done pretty well, conquering some pretty fierce problems and they are moving in a better direction now. You can only hope they would go bankrupt like Detroit but its not going to happen.

    So if you look at Texas... you will see a mixed bag as well. Conditions are favorable for the well to do as well as some of the older folks who have already cut out their living, but everyone else is screwed. Texas ranks poorly in many, many metrics concerning the average citizen.

    So what we have is California that tries to create a state that works alright for everyone and is moderately successful, moderately failing.

    Texas tries to create a state that works great for those on top and to hell with everyone else they're on their own, and that's what they got.

    Am I supposed to be more impressed by the conservative results? Is it really such an achievement to wax the shiny car and make it look good?
    NO, California HAS NOT "done well".

    They're up to their eyeballs in unfunded liabilitees while Jerry Brown proclaims a " surplus".

    The Californias workers pension fund is underfunded by as much as 320 BILLION dollars.

    Their State Healthcare Fund is underfunded by more than 60 Billion dollars and anrevent study found that tax payers could be on the hook for up to 500 BILLION dollars.

    Californias interest cost this ear alone was over 4 BILLION dollars.

    So, what does their legislature do ? Gives raises to the Government workers.

    To put things into perspective, Detroit went bankrupt because of debts exceeding 18 BILLION dollars. Californias debt crisis makes detroits look like pocket change.

    The Liberal State Government, the California Legislature continues to kill bissiness opurtunities for that state.

    They sent out Tax Bills to 2000 Bussinesses totalling 120 Million dollars.

    The State promised Busisness tax breaks a few years ago for bussinesses that invested in California and then they chamged their minds. The State didn't honor its commitment.

    No California isn't "doing better, they're driving up their debt, claiming fiscal health and hoping no ones notices all of their unfinded liabillities.

    Take notice of this Detroit situation. Moving forward with this bankruptcy now releases Detroits from its Pension debts. People that were promised a Pensipn are now going to get squat and I bet a dime to a dollar that California will welch on its Pensions commitments too.

    After they declare bankruptcy that is.

  3. #33
    Banned
    Join Date
    Jun 2006
    Last Seen
    08-29-17 @ 09:28 AM
    Gender
    Lean
    Libertarian - Left
    Posts
    16,575

    Re: Detroit bankruptcy moves forward as judge rules city can shed debt

    Quote Originally Posted by Fenton View Post
    Telling the truth isn't partisan bomb throwing.
    .
    Here's another truth you hate. Conservatives and Republicans ALSO lie.

  4. #34
    Assassin
    Verax's Avatar
    Join Date
    Jul 2011
    Last Seen
    Today @ 10:06 PM
    Gender
    Lean
    Progressive
    Posts
    9,530

    Re: Detroit bankruptcy moves forward as judge rules city can shed debt

    Quote Originally Posted by Fenton View Post
    ...
    This is all doom and gloom. They have a lot of problems but also a lot going for them as well. Like I said its a mixed bag but it is getting better. They're not going to go bankrupt, lol.

    I noticed you just happened to leave out any word about how the people of Texas are doing comparatively. You also didn't comment on the successful "liberal" cities, states and countries.

    Is it possible factors other than "liberal" versus "conservative" are more important?

  5. #35
    Sage
    Anthony60's Avatar
    Join Date
    Mar 2013
    Location
    Northern New Jersey
    Last Seen
    Today @ 10:34 PM
    Gender
    Lean
    Conservative
    Posts
    7,574

    Re: Detroit bankruptcy moves forward as judge rules city can shed debt

    I wonder what Detroit would look like today if taxes where cut all the way around, 50 years ago? What if the union and government workers were paid market wages? What if the city limited benefits to what they could afford, not what the left demands?

    You know, before the left noticed the prosperity there and latched on like a parasite until the host was dead.
    "We have met the enemy and they are ours..." -- Oliver Hazard Perry
    "I don't want a piece of you... I want the whole thing!" -- Bob Barker

  6. #36
    Sage
    Fenton's Avatar
    Join Date
    Nov 2012
    Last Seen
    Today @ 03:48 PM
    Gender
    Lean
    Conservative
    Posts
    26,324

    Re: Detroit bankruptcy moves forward as judge rules city can shed debt

    Quote Originally Posted by Verax View Post
    This is all doom and gloom. They have a lot of problems but also a lot going for them
    as well. Like I said its a mixed bag but it is getting better. They're not going to go bankrupt, lol.

    I noticed you just happened to leave out any word about how the people of Texas are doing comparatively. You also didn't comment on the successful "liberal" cities, states and countries.

    Is it possible factors other than "liberal" versus "conservative" are more important?
    LOL !!

    I didn't think you were making a serious comparison. I mean what kind of Liberal rag have you been reading that would even attempt to compare the two states economically ?

    But lets DO proceed.

    In 2012 a survey found California to be the WORST state to do bussiness in in the entire US.

    In 2011 it ranked dead last in bussiness creation.

    Thanks to Prop 30, California now has the Highest overall State income tax in the nation.

    They have one of the highest rates for State sales tax.

    Its the only State that taxes Carbon Emissions.

    In 2011, 33% of their population recieved TANF.

    They have some of the Highest payed teachers even though their students ranked 48 and 49 in Math and Reading.

    IF you include UNFUNDED LIABILLITIES, they hold twice the amount of debt than any other State in the Union.

    Since 2007, child poverty in California has increased by 30%.

    That State is imploding right before our eyes as they continue down the road of high taxes, increased spending and burdensome regulations.

    Any "positive" news out of California is dubious at best, as GDP revisions in previous years were the Highest in the Country.

    Texas ? With NO STATE INCOME TAX and a lower cost of living ?

    Texas has had continued job growth and economic expansion in ALL of its major cities . 34% jobs growth since 1995 which outpaced total National job growth of 12%.

    From 2002-2011, Texas produced 216,000 jobs that payed in excess of 150% of the average wage in America.

    Thats out of 495,000 total. In the entire Nation.

    Texas cities are growing in population, taking in refugees from Blue plague States and offering them something their home state couldn't.

    We've welcomed quite a few Californians too. They're welcomed here as long as they don't attempt to apply their leftist tendencies ( if they have them )

    I guarantee, Californias situation will not end well. There isn't enough private sector activity to pay back the hundreds of billions in short funded pension funds.

    They've aggressively gone after bussinesses, and increased tax's in a last ditch effort to raise revenue. But what its really accomplished is to drive out private sector growth and stifled jobs growth as more people become dependent on Social services.

    You would think with Detroit going belly up, the Libs in Control in Cali would see the light.

    LOL !!! Not a chance. Liberals have no humility, and can't admit that their life long obsession with a corrupted ideology has been a huge waste of time.

    So, they'll keep digging, and creating more poverty and misery in the areas they control.

  7. #37
    Sage

    Join Date
    May 2007
    Last Seen
    Yesterday @ 02:43 PM
    Lean
    Conservative
    Posts
    7,940

    Re: Detroit bankruptcy moves forward as judge rules city can shed debt

    Detroit was founded on lazy union employees (not workers). As a result, after decades of demanding gold on a platter they are stuck with dust on the parking lot. You asked for it and you got it.
    It's nothing more than X's and O's.

  8. #38
    Assassin
    Verax's Avatar
    Join Date
    Jul 2011
    Last Seen
    Today @ 10:06 PM
    Gender
    Lean
    Progressive
    Posts
    9,530

    Re: Detroit bankruptcy moves forward as judge rules city can shed debt

    Quote Originally Posted by Fenton View Post
    ...
    What was that you said earlier Fenton, that you hate Libs and Dems because they... lie?

    You took some random low points about California with no sources provided and then compared it to Texas' highlight reel.

    You're not interested in an apples to apples comparison? You just want to show one side of an argument? I'm shocked, really.

    So business is doing well in Texas but how are the people? You always ignore that, the overall factors that show how well a state is doing instead of just cherry picking what you want to see. Here is a better overall picture...

    List of U.S. states by American Human Development Index - Wikipedia, the free encyclopedia

    Texas is ranked 38th, yikes. Look at California, 12th, hmmm. Apparently something other than just how much money the rich have is important too huh?

  9. #39
    Sage
    Fenton's Avatar
    Join Date
    Nov 2012
    Last Seen
    Today @ 03:48 PM
    Gender
    Lean
    Conservative
    Posts
    26,324

    Re: Detroit bankruptcy moves forward as judge rules city can shed debt

    Quote Originally Posted by Verax View Post
    What was that you said earlier Fenton, that you hate Libs and Dems because they... lie?

    You took some random low points about California with no sources provided and then compared it to Texas' highlight reel.

    You're not interested in an apples to apples comparison? You just want to show one side of an argument? I'm shocked, really.

    So business is doing well in Texas but how are the people? You always ignore that, the overall factors that show how well a state is doing instead of just cherry picking what you want to see. Here is a better overall picture...

    List of U.S. states by American Human Development Index - Wikipedia, the free encyclopedia

    Texas is ranked 38th, yikes. Look at California, 12th, hmmm. Apparently something other than just how much money the rich have is important too huh?
    Huh ?

    I posted numerous examples, plenty of objective data to offer up a comparison and you reply with a Wiki link? Lol !!

    You know it's unfortunate that there are people out there that refuse to see the truth because it contradicts their ideology. It just means that a real solution is that much further off, and that Millions of American families get to continue to struggle financially.

    Not to long ago Governor Jerry Brown boasted that his policies of higher taxation and more regulatory hurdles would produce a budget surplus. Liberals ate it up, came into this forum and posted their threads like the surplus was already sitting in California's General Fund.

    But a quick look into California's REAL economic situation proved that they were wrong. First, how could any Governor claim a surplus when his Teachers Pension fund is short funded by as much as 300 BILLION dollars ?

    Second, increasing taxes and regulations on Businesses doesn't lead to surpluses, or an increase in revenue even. It drives away wealth and stifles economic growth, so I knew Jerry Brown was like every Democrat Politician out there. Willing to lie blatantly because he's more loyal to his twisted ideology than he is to the citizens of California.

    So what did he do ? He posted a 5 BILLION dollar 'Surplus' that didn't even exist....


    ''The revenue bump was historic. But the question for budget experts was whether lawmakers could begin allocating the windfall toward government programs and tax breaks — or whether the money amounted to an accounting anomaly.

    Brown’s budget office now advises in an official cash report that it is probably the latter. …

    The report says the extra money was “likely the result of major tax law changes at the federal and state level having a significant impact in the timing of revenue receipts.”

    As a principle I don't like being lied to, but at least I knew there was no way in hell that a Liberal Governor could muster up a Surplus in a down economy, so the 'accounting anomaly' didn't surprise me.

    Californians deserve better than a Governor posting fictitious surpluses. A Governor that intends to follow through with a anti-business and investment higher tax's model while California is on the verge of imploding due to massive unsustainable debt.

    A Governor that is so blinded by a corrupted left wing ideology that he's willing to force millions of his citizens into an extended period of dependence and poverty or force them out of his State all together.

    It's ok, they can come here, they DO come here, to Texas where there are jobs and opportunities. The State I was born and raised in is a literal thorn in the side of every left wing whako out there, including Obama and Jerry Brown. Because we have MULTIPLE cities with exploding economies and it's all based on Conservative principles that Liberals say never work. Low taxes, NO STATE INCOME TAX, incentivize private investment and remove the Government from the equation.

    Well, we're proof that it works.
    The New Democratic Party Slogan :

    " Return to Power By Any Means Necessary "

  10. #40
    Traveler

    Jack Hays's Avatar
    Join Date
    Jan 2013
    Location
    Williamsburg, Virginia
    Last Seen
    Today @ 10:35 PM
    Gender
    Lean
    Independent
    Posts
    54,957
    Blog Entries
    2

    Re: Detroit bankruptcy moves forward as judge rules city can shed debt

    Quote Originally Posted by Fenton View Post
    Detroit bankruptcy moves forward as judge rules city can shed debt | Fox News

    " Detroit's historic bankruptcy will move forward after a judge ruled Tuesday that the financially crumbling city is eligible to shed billions in debt.

    Judge Steven Rhodes turned down objections from unions, pension funds and retirees, which all stand to lose big under any plan to address Detroit's long-term liabilities.

    The decision Tuesday was long-awaited, and clears the way for the city to proceed in the largest public bankruptcy in U.S. history.

    "This once proud and prosperous city can't pay its debts. It's insolvent. It's eligible for bankruptcy," Rhodes said in announcing his decision. "At the same time, it also has an opportunity for a fresh start."

    The plan isn't on the judge's desk yet. The issue for Rhodes, who presided over a nine-day trial, was whether Detroit met specific conditions under federal law to stay in bankruptcy court and turn its finances around after years of mismanagement, chronic population loss and collapse of the middle class.

    The city has argued that it needs bankruptcy protection for the sake of beleaguered residents suffering from poor services such as slow to nonexistent police response, darkened streetlights and erratic garbage pickup -- a concern mentioned by the judge during the trial.

    Before the July filing, nearly 40 cents of every dollar collected by Detroit was used to pay debt, a figure that could rise to 65 cents without relief through bankruptcy, according to the city. "
    A victory for responsible government.
    "It's always reassuring to find you've made the right enemies." -- William J. Donovan

Page 4 of 5 FirstFirst ... 2345 LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •