Federal judge approves DetroitA federal judge on Friday approved Detroitís plan to emerge from the largest municipal bankruptcy in U.S. history, fueling hopes that the revival of a city that for decades has been a national symbol of urban decline is at hand.
The cityís blueprint for moving forward allows it to shed $7 billion of its staggering $18 billion debt, even though many creditors ó including some bond holders and the cityís 21,000 pensioners ó will have to endure far smaller cuts than were originally contemplated.
Good news for Detroit, but stillÖ The born place of American industry is in such a state that it is forced to struggle for survival. The methods itís left with are a shame, IMHO. And though Iím glad they have some way out and I wish all the best in this fight, I canít stop thinking that instead of restoring our economy the government is spending loads of money on useless and even ridiculous stuff.
Just think about it:
Washington spends $25 billion annually maintaining unused or vacant federal properties.
Government auditors spent the past five years examining all federal programs and found that 22 percent of them -- costing taxpayers a total of $123 billion annually -- fail to show any positive impact on the populations they serve.
The Pentagon recently spent $998,798 shipping two 19-cent washers from South Carolina to Texas and $293,451 sending an 89-cent washer from South Carolina to Florida.
The Congressional Budget Office published a "Budget Options" series identifying more than $100 billion in potential spending cuts.
Washington will spend $2.6 million training Chinese prostitutes to drink more responsibly on the job.
The Securities and Exchange Commission spent $3.9 million rearranging desks and offices at its Washington, D.C., headquarters.
The refusal of many federal employees to fly coach costs taxpayers $146 million annually in flight upgrades.
50 Examples of Government Waste
And this is just some of them! Donít you think those money could help Detroit and other bankrupt cities to come back to life?