“Faced with the obvious solution of slashing pensions, a Michigan judge (Ingham County Circuit Court Judge Rosemarie E. Aquilina) temporarily barred the state’s governor and Detroit’s emergency manager from taking any action that would allow cuts in pension benefits for city retirees. “
Ok, Judge Airhead. Do you have the money to pay for that stuff under that black skirt of yours?
Detroit is broke because whites fled the city and took their tax money with them. And it all started with the radical “leadership” of corrupt democRAT Coleman Young.
Obama will bail out the Detroit pension recipients.
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I certainly hope not. I’m getting a little tired of the statists and the employees of the statists’ instrument of power (the government) being protected and sheltered.
They are going to be so surprised when they discover that you can't have government spend money and have it, too.
Detroit can’t pay its bills, so a judge is going to require them to pay their bills before they can slash their budget?????
The greedy working class of America will have to do their part to support this wonderful city. There are a lot of beds that need feathering and a lot of back that need scratching. Unions need their money!
The whole point of bankruptcy is to get out of bad contracts. While I feel sorry for the retirees, their benefits are not sacrosanct and should not be preserved at the expense of taxpayers. A private company that goes bankrupt does just that. Municipal employees are not holier than thou.
Everyone must be responsible for his or herself. You cannot and should not depend upon the government or others to take care of you.
Detroit councilwoman to Obama: We voted for you, now bail us out
Give every retiree 40 acres and a mule.
The real political fight hasn’t begun, yet. Government employees will struggle in politics against their predecessors (pensioners) for the decreasing availability of debt/revenues, as the default process continues. That’s where the money is, although it will drastically decrease in value (recirculating debt without manufacturing production of real wealth).
Have fun. Enjoy the slide (unless you’re a government employee or pensioner). Gloat fast over having sent most of the real work for real men to foreign countries over the past few decades, because the situation won’t last long.
Let’s see—
1) city government (Democrat-run, natch) overpromises on pensions and steals the taxpayers blind
2) said government declares bankruptcy
3) taxpayers across the country get stuck with the bill.
What we have here is another welfare program, which transfers the hard-earned money of working people, to the moochers in Detroit.
But if we don't protect our markets, that will eventually be every city. Even cities that avoided debt and didn't promise their employees crap will eventually be dropping basic services and turning out the lights.
If Obama had a city.............................
all the black ones, anyway.
Looks like they ran out of other people's money and it's very likely that the takers outnumber the makers by 10 to 1.
Obamacare’s death panels will deal with the overabundance of retirees quite effectively.
But I thought Obama single handedly saved the Motor City.
BK is Federal The BK judge will overrule one way or another.
Sell off Miggy, I know a few teams that’ll buy him.
Detroit has no tax base and no income to pay its pensioners. The State of Michigan won’t bail out Detroit and it’s unlikely that Feds can either. In other words, it’s time for Detroit to go into liquidation.