Detroit receives $100 million financial bailout from Obama
It seems that with a federal government on the brink of a shut-down and not a dime in sight to help balance the budget, President Obama still found millions for bankrupt Detroit. According to Fox News, the Obama administration has uncovered $100 million for fiscally beleaguered City of Detroit as a way of helping the city cope with mounting financial woes.
It appears that Christmas did come a bit early for the citizens of Detroit after learning that miracle of miracles the kitchen cabinet was not bare after all. This takes on an even more serious note, because Obama and his economic and political apologists like House Minority Leader Nancy Pelosi had been insisting that, “There are no more cuts to make.”
Yet hiding in within the administration’s coffers was $100 million of taxpayer dollars that were not flowing to its intended funding obligations. It certainly does shore up the GOP claims in the House by its leaders, that Obama has no intention on coming clean with the House or with the American people when it comes to where dollars are spent, unspent or hidden from the public.
But there is a deeper more insidious issue which does rise above the mist of open deceit and that is whether or not, cities like Detroit with is $18 billion plus deficit and other urban cities teetering on the brink of insolvency like Chicago, New York, Washington D.C. and several in California including Los Angeles will be granted these $100 million paydays once, twice or many times.
Comments
No Bailout. The demonrats ruined Detroit and Chicago, Now they need to live with it.
The Unions and corruption ruined Detroit and Obama was part of it. He is trying to do the same to us. Let it sink.
I'm a Libertarian Polock from Detroit.
I don't know what's best for other people.
If you think you do, then you are not Libertarian.
Anything that raised taxes or other people's expenses is not Libertarian.
Free Market all the way.
Mark Steyn on the radio 7-19-13 said that the Detroit bankruptcy shows 11 billion in debt of which 9 billion was unfounded pensions for union workers. Promises that were too good to be true.
P
NO, give them $100 Trillion. The paper ain't worth anything anyway.
RIP Detroit.
Definitely NO! They have not been fiscally responsible, so no bailout.
I didn't say that Detroit will never recover, to wish that plight on them. The citizen base is too corrupted and the politicians there are too corrupted to ever have any hope of digging themselves out of the current hopelessness there, no matter how much money was thrown at the problem. The type of citizens who built Detroit and maintained it are largely gone. Our politician class has become so corrupt that they are no longer in touch with any sense of reality. They can propose grandiose plans for spending money but they can't manage two nickels. America is actually bankrupt and much of America internally is actually bankrupt. America owes 1-1/2 times all the wealth on earth. It is mathematically impossible for it to ever be repaid. Our Federal govt. and the Federal Reserve in concert are the greatest criminal enterprise that has ever existed in the history of mankind. It is soon to end.
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