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Thread: Emergency manager: Detroit won't pay $2.5b it owes

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    Re: Emergency manager: Detroit won't pay $2.5b it owes

    Quote Originally Posted by PeteEU View Post
    They elected GOP presidents...
    More intellectual dishonesty... just like you Rush/Holocaust post. Pure intellectual dishonesty, but hey! You're a Socialist, and the foundation of socialism is lying.

    Socialist schemes pushed by leftist legislators. The largest and most costly by Democrat presidents. The famous triplet... The Raw Deal, The Grating Society and now ObamaKare.
    The Clintons are what happens...
    when you have NO MORAL COMPASS.

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    Re: Emergency manager: Detroit won't pay $2.5b it owes

    Completely pinning this on Dems running the city forever is unfair. To fail to acknowledge outsourcing of automotive manufacturing as a culprit of Detroit's demise is dishonest.

    With that out of the way, Detroit leadership should have understood what was taking place. As the city lost jobs and revenues, expenditures should have been scaled back. Obviously that didn't happen.

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    Re: Emergency manager: Detroit won't pay $2.5b it owes

    If I were a creditor I'd demand they raise taxes and pay me back. They were leant money on the full faith and credit of a taxing authority. It's time for the leaches of this society to stop enjoying a free ride and pay their bill.


    Quote Originally Posted by zimmer View Post
    Amerika's future.

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    Re: Emergency manager: Detroit won't pay $2.5b it owes

    They could pay it off in a month if the cops would grab the crack money off the streets.
    It's nothing more than X's and O's.

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    Re: Emergency manager: Detroit won't pay $2.5b it owes

    Quote Originally Posted by zimmer View Post
    Amerika's future.
    It's likely that some municipalities will run into similar issues.

    However, Detroit is very different than the rest of the nation, in numerous ways. E.g. unlike most cities (which are growing), Detroit has been shrinking for decades, and has lost 60% of its population since 1950. It lost its industrial base, and later was heavily damaged by race riots. Crime rates have fallen slightly, but nowhere near as much as most other cities.

    Debt is not what's killing Detroit. It's the loss of population, the loss of industry, and the relatively high crime rates. The fiscal crisis is a symptom more than a cause.

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    Re: Emergency manager: Detroit won't pay $2.5b it owes

    Quote Originally Posted by Visbek View Post
    It's likely that some municipalities will run into similar issues.

    However, Detroit is very different than the rest of the nation, in numerous ways. E.g. unlike most cities (which are growing), Detroit has been shrinking for decades, and has lost 60% of its population since 1950. It lost its industrial base, and later was heavily damaged by race riots. Crime rates have fallen slightly, but nowhere near as much as most other cities.

    Debt is not what's killing Detroit. It's the loss of population, the loss of industry, and the relatively high crime rates. The fiscal crisis is a symptom more than a cause.
    And why would businesses leave Detroit? How does one keep business in their cities and attract more business? Be business friendly. That means governments and unions, but the latter are another strain of business HIV; Job killers.

    California with all its benefits has turned from a business friendly state that was looked to as cutting edge, to a socialist nightmare that is business hostile. They're losing businesses and residents... due to idiotic socialist legislation.

    States, cities, countries all wither and die when Socialism infects the system.
    The Clintons are what happens...
    when you have NO MORAL COMPASS.

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    Re: Emergency manager: Detroit won't pay $2.5b it owes

    Quote Originally Posted by TheInternet View Post
    Completely pinning this on Dems running the city forever is unfair. To fail to acknowledge outsourcing of automotive manufacturing as a culprit of Detroit's demise is dishonest.

    With that out of the way, Detroit leadership should have understood what was taking place. As the city lost jobs and revenues, expenditures should have been scaled back. Obviously that didn't happen.
    That's why it was the fault of those who run the city. The boss is always responsible. That's how it work.

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