Detroit Files For Bankruptcy (Retirees Outnumber Employees By Over 2 to 1), Judge Bars Pension Cuts

Confounded Interest ^ | 07/18/2013 | Anthony B. Sanders

[whitedog57]

Obama will bail out the Detroit pension recipients.

[VanDeKoik]

“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?

[CA Conservative]

How does a state judge think she has any say in how a federal bankruptcy action will be handled?

[South40]

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.

[House Atreides]

Obama will bail out the Detroit pension recipients.
***************************************************************
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.

[Calvin Locke]

State & local governments should be banned from pension bailouts.

This "Tragedy of the Commons" crap spreading the pain of corruption and ineptitude can't go on.

[Mark]

Judges get pensions too.

[E. Pluribus Unum]

This is going to happen to all the public school teachers in the country who think they have that big fat pension coming from the taxpayers.

They are going to be so surprised when they discover that you can't have government spend money and have it, too.

[PapaBear3625]

“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. “

Conflicting reports: this article from 30 minutes says she was going to bar the emergency manager from filing for bankruptcy, but the petitioners were minutes too late.

[Tzimisce]

Detroit can’t pay its bills, so a judge is going to require them to pay their bills before they can slash their budget?????

[KSCITYBOY]

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!

[NoKoolAidforMe]

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.

[huckfillary]

When will the federal government follow suit? The sooner the better. It’s time we all take our medicine, pick up the pieces, and build anew.

[Paladin2]

I’d suggest that it goes back well before 1967.

[Rusty0604]

Detroit councilwoman to Obama: We voted for you, now bail us out

Read more: http://www.myfoxdetroit.com/story/20264712/detroit-councilwoman-to-obama-we-supported-you-now-support-us#ixzz2ZRHsJCbi

[JSteff]

you can't have government spend money and have it, too.

This judge puts a lie to that. Unions know that under o they are covered. the other normal tax payers are not.

If the dem low information voters can not see all this yet, we are doomed. Thank you again to all the NON VOTERS who actually voted for Obama.

Remember, if the 5 million conservative who did not vote would have.. there would have been someone else in office now. If you can not see that anyone other than O is "not any better" you are a fool and a child.

And yes maybe it would not be your dream president, but the one we got because of you is no dream either.

Oh, and O still will most likely (nearly certainly) get two new SCOTUS justices... so you screwed that pooch too. You children. With only one more liberal justice we are doomed.

[Average Al]

Give every retiree 40 acres and a mule.

[familyop]

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.

[familyop]

"Give every retiree 40 acres and a mule."

That's a good one! Problem is, they'd claim that each 40 acres was worth $600,000 and continue to outlaw all real work and private property rights in their counties for the sake of property values. There's only one over-60 within many miles of me who gets outdoors to do any work, and he's about 80. His lazy neighbors ripped him off, big time.

[CivilWarguy]

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.