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Thread: Detroit Files for Largest Municipal Bankruptcy in US History

  1. #81
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    Re: Detroit Files for Largest Municipal Bankruptcy in US History

    Quote Originally Posted by Dr. Chuckles View Post
    Even running around Detroit ten years ago, you got a clear idea why they chose that as the setting for Robocop. The cass corridor looks like something from an urban warzone in africa



    Maybe because it is an urban warzone(But not in Africa, of course.)

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    Re: Detroit Files for Largest Municipal Bankruptcy in US History

    Quote Originally Posted by haymarket View Post
    You should live here Maggie. That is not at all what is in the works. Not at all.
    You should really tell us what's in the works.

    However, what's "in the works" isn't going to happen if it includes taking monthly benefits away from those already retired. Betcha $$ on that.
    The devil whispered in my ear, "You cannot withstand the storm." I whispered back, "I am ​the storm."

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    Re: Detroit Files for Largest Municipal Bankruptcy in US History

    Quote Originally Posted by shrubnose View Post
    Maybe because it is an urban warzone(But not in Africa, of course.)
    No, I mean it looks like the area was bombed or something, not just random thugs shooting at each other.

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    Re: Detroit Files for Largest Municipal Bankruptcy in US History

    Quote Originally Posted by MaggieD View Post
    You should really tell us what's in the works.

    However, what's "in the works" isn't going to happen if it includes taking monthly benefits away from those already retired. Betcha $$ on that.
    I dearly hope you are right Maggie. But in the couple of meetings I have been to on this, far more drastic options were presented to us which including cutting the amount of money that current retirees are getting. That is current retirees - not just future ones.

    This was presented as one of several options. So I hope it never happens.
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    Re: Detroit Files for Largest Municipal Bankruptcy in US History

    Quote Originally Posted by haymarket View Post
    I dearly hope you are right Maggie. But in the couple of meetings I have been to on this, far more drastic options were presented to us which including cutting the amount of money that current retirees are getting. That is current retirees - not just future ones.

    This was presented as one of several options. So I hope it never happens.
    You can make bank on it, Haymarket. I understand your concern though. But the only reason your head's letting you worry about it is that it effects you personally. If it didn't? You'd be as confident as I am.
    The devil whispered in my ear, "You cannot withstand the storm." I whispered back, "I am ​the storm."

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    Re: Detroit Files for Largest Municipal Bankruptcy in US History

    Quote Originally Posted by MaggieD View Post
    People don't know the fiscal condition of their state. They don't know what pension benefits are promised to public sector workers. They don't know how under-funded pension plans are . . . how many cops they have on the street they don't need (now that their population has gone from 1.8 million to just over 700,000 . . . they don't know how union contracts constrict a city's ability to fire workers . . . lay them off . . . they don't know how politicians are paying their brothers-in-law to punch in on the city timeclock at 7 AM in the morning, go to their "other jobs" and punch back out at 5 PM.

    Put the blame where it belongs. On the dufus's that mismanaged and stole from the city coffers.
    I don't agree with that.

    That might be true on average but Detroit's fiscal woes have been very widely reported for well over a decade now. They've been making the New York papers for years and I have a difficult time believing The Detroit Free Press hasn't covered it more thoroughly than The New York Times. You can't tell me they didn't notice the city has halved in size, police response times have risen astronomically, and they don't have money to run street lights anymore even if they haven't picked up a newspaper since the Johnson Administration.
    Last edited by Dapper Andy; 07-18-13 at 11:14 PM.

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    Re: Detroit Files for Largest Municipal Bankruptcy in US History

    Quote Originally Posted by Dapper Andy View Post
    I don't agree with that.

    That might be true on average but Detroit's fiscal woes have been very widely reported for well over a decade now. They've been making the New York papers for years and I have a difficult time believing The Detroit Free Press hasn't covered it more thoroughly than The New York Times. You can't tell me they didn't notice the city has halved in size, police response times have risen astronomically, and they don't have money to run street lights anymore even if they haven't picked up a newspaper since the Johnson Administration.
    They somebody's stoking the voting machines. The mayor is new since 2009, but still a Democrat. Hasn't been a Republican mayor since 1962. What accounts for it? Idiocy? Or my first reaction -- voter fraud?
    The devil whispered in my ear, "You cannot withstand the storm." I whispered back, "I am ​the storm."

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    Re: Detroit Files for Largest Municipal Bankruptcy in US History

    Quote Originally Posted by MaggieD View Post
    Breaking contractual promises is done all the time. There's a cost. Taxpayers are better off paying that cost and letting union aristocracy get 401K's like the rest of America.
    West Virginia did that and it failed miserably. Many forget that teachers can't collect social security.

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    Re: Detroit Files for Largest Municipal Bankruptcy in US History

    Quote Originally Posted by MaggieD View Post
    You can make bank on it, Haymarket. I understand your concern though. But the only reason your head's letting you worry about it is that it effects you personally. If it didn't? You'd be as confident as I am.
    I am NOT impacted by this.
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    Re: Detroit Files for Largest Municipal Bankruptcy in US History

    Quote Originally Posted by rabbitcaebannog View Post
    West Virginia did that and it failed miserably. Many forget that teachers can't collect social security.
    I quickly looked up West Virginia, and the taxpayers got screwed royally. What else is new? In a nutshell, the state closed the defined benefit pension plan to new hires in 1991 and put them on 401K's -- you know, like the rest of America. Well, in 2009, those teachers in the 401K's demanded a do-over -- and the WV legislature went along with it! "Let's pretend like the last 18 years didn't happen and give us our defined benefit pension plans!! What a freaking joke. It is only a matter of time until taxpayers revolt against this nonsense. It's getting closer and closer every single day.

    Public sector employees like the West Virginia teachers are quickly becoming the only Americans left with decent pensions. But the problem is that private-sector taxpayers have to foot the bill, while at the same time, their own retirements are going to pot.

    I am reminded of a comment that Dallas Salisbury, the president of the Employee Benefit Research Institute, made to me a few years back: "The public employee, no matter who you compare him to, has become the dominant sector of the labor force that is well pensioned and well benefited," he said. "And the real question is, At what point, vis-a-vis tax burden, does the nonpensioned public start to pay attention to that as voters?"
    The devil whispered in my ear, "You cannot withstand the storm." I whispered back, "I am ​the storm."

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