Posted on 06/14/2013 9:24:34 AM PDT by Former Proud Canadian
And so the next casualty of the inevitable municipal collapse appears, which is, as expected, that one-time symbol of all that was right with a (once upon a time) manufacturing America, having since been replaced with the anti-symbol of all that is broken: Detroit.
DETROIT BEGINS MORATORIUM ON ALL DEBT SERVICE PAYMENTS FOR UNSECURED FUNDED DEBT
DETROIT TO DEFAULT ON CERTIFICATES OF PARTICIPATION DUE TODAY
And, true to from in the New Normal America, where the "fairness doctrine" rules supreme under Big Brother's watchful eye, the premise of the upcoming glorious recovery is a well-known one: "the shared-sacrifice." To wit: "The City currently faces approximately $17 billion in total liabilities. Detroit is insolvent...
(Excerpt) Read more at zerohedge.com ...
all city pensioners should be required to live in the city to collect....if they don’t, they forfeit 50% of their pension...
Obama will find a way. I already am cursing at him for a bailout that has yet to occur but will. He bailed out GM. He will make up (someone will make it up foe him since he is pretty dumb)a story about how a failure of Detroit will cast the entire nation into a great depression and therefore its far better to bail them out and make his union pals whole.
“Shared-Sacrifice”:
The politicians share.
The taxpayer sacrifices.
JUST ANOTHER BEAUTIFUL DAY IN THE NEIGHBORHOOD
Politicians say, “More taxes will solve everything”...
...and the band played on....
some may argue just living in detroit ia already a personal sacrifice.
They don't even deserve that. It's still wealth transfer from people that earned it to people that did not, only better managed.
Not all of us are afraid of losing a whipping boy.
Lefty quagmire, just walk away Re’nee.
But don’t come here!
I’m 55 and was born and raised about 100 miles West of Detroit. The town has always been, to my recollection, a failure of a city.
That’s not a bad idea. Narrow it down and let the Democrat voters suffer the consequences of their actions.
Until Detroit addresses the problems essentially their tax/spending nothing changes except Michigan getting their bills instead of the residents of Detroit. Were I a Michigan governor/legislator I would tell Detroit, heal thyself or die, the choice is yours but the state will not fund your parasitic existence anymore.
The voted the Leftists in the last few years. They need to figure out how to pay for things.
Maybe they could sell all the houses in Detroit for a dollar each and it could be bulldozed and a new city built with a promise of no new Democrats running things for the next 100 years.
If they don't like that plan, they should ask the Saudis to bail them out.
...and the band played on....*
People movin’ out, people not movin’ in,
Why, because of the mess the Dems have got them in.
Run run run, but you sure can't hide.
and the only safe place to live, is in Hamtramck on the weekends.
and the band played on....
He had the votes in Congress for a bailout in 2009. He doesn’t have those votes today.
Yes. 100% correct but he’s done plenty on his own and gotten away with it. And when he starts using words like ‘entitled and we owe it to them’ Boehner will start to weep and he’ll get his way.
I never ever wanted to be wrong more.
Is Suze Orman still swearing by Muni Bonds?
-— yep... but when I talk to my liberal family back there, they blame everything on the evil Republican governor. It really is quite sickening, and I can’t talk to them about it. they are completely deluded. ——
Wooooooooooooow.... You’re right. Words would be wasted.
“Shared-Sacrifice” To Follow>>>>>>>
What a joke. The rest of Michigan will be forced to bail them out. There is no shared sacrifice.
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