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

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

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

    A team led by a state-appointed emergency manager said Friday that Detroit is defaulting on about $2.5 billion in unsecured debt and is asking creditors to take about 10 cents on the dollar of what the city owes them.
    Amerika's future.
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    Re: Emergency manager: Detroit won't pay $2.5b it owes

    Detroit is an example of what happens when a city outlives it usefulness but spends like it is growing as it collapses, not that unlike the the path the US is on.

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

    Quote Originally Posted by Fisher View Post
    Detroit is an example of what happens when a city outlives it usefulness but spends like it is growing as it collapses, not that unlike the the path the US is on.
    You think America has outlived its usefulness!?
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    Quote Originally Posted by Lutherf View Post
    We’ll say what? Something like “nothing happened” ... Yeah, we might say something like that.

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

    Quote Originally Posted by Deuce View Post
    You think America has outlived its usefulness!?
    I think relative to the rest of the world, the US is losing its status as the shining city on the hill and the democrats and republicans are both double downing on the same policies that are causing this.

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

    Quote Originally Posted by Fisher View Post
    I think relative to the rest of the world, the US is losing its status as the shining city on the hill and the democrats and republicans are both double downing on the same policies that are causing this.
    Part of the problem is that we think we were a "shining city on the hill."
    He touched her over her bra and underpants, she says, and guided her hand to touch him over his underwear
    Quote Originally Posted by Lutherf View Post
    We’ll say what? Something like “nothing happened” ... Yeah, we might say something like that.

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

    Quote Originally Posted by zimmer View Post
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    I still have trouble understanding how a single city is allowed to amass a mulch-billion dollar debt.
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    Re: Emergency manager: Detroit won't pay $2.5b it owes

    Quote Originally Posted by Deuce View Post
    Part of the problem is that we think we were a "shining city on the hill."
    When people seeking a new land to live in, put America at the top of the list.

    The decay of America is easily traced to leftist, socialist HIV that has infected American society.
    The Clintons are what happens...
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    Re: Emergency manager: Detroit won't pay $2.5b it owes

    Quote Originally Posted by Oftencold View Post
    I still have trouble understanding how a single city is allowed to amass a mulch-billion dollar debt.
    Look at our Federal government... How did they build up 17 Trillion in debt and $60 trillion in unfunded liabilities? Same, same. People who think the gravy train will never end, and just keep piling one fiscal idiocy atop another for decades.
    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

    On the other hand, apparently several California cities near bankruptcy have turned things around a bit. Enhanced revenue will work wonders, if spending is kept constant or reduced. Too bad that won't work for Detroit.

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

    Quote Originally Posted by zimmer View Post
    Look at our Federal government... How did they build up 17 Trillion in debt and $60 trillion in unfunded liabilities? Same, same. People who think the gravy train will never end, and just keep piling one fiscal idiocy atop another for decades.
    They elected GOP presidents...
    PeteEU

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