DetroitNews: The city of Detroit filed the largest municipal bankruptcy case in U.S. history Thursday, culminating a decades-long slide that transformed the nation’s iconic industrial town into a model of urban decline crippled by population loss, a dwindling tax base and financial problems.
Gov. Rick Snyder justified approving the historic filing by reciting a litany of the city’s ills, including more than $18 billion in debt, maxed-out tax rates, the highest murder rate in 40 years, 78,000 abandoned buildings and a half-century of residential flight. He said the city failed to provide basic services to residents or pay creditors.
But wait...didn't Obama say during his reelection campaign that he'd never let Detroit go bankrupt. Oops.
And that bet got him through another election cycle...which is all it was ever intended to do anyway (like so much of the spend-taxpayer-money-now-to-kick-it-down-the-road attitude of the Washington Ruling Class).
TheAmericanInterest hones in on the 'telling climax to this sorry tragedy' citing a WSJ report, while taking their own stab at pinpointing the colorful problem at the heart of the Motor City's failure...
Unfortunately, it's sad to come to the realization that this urban decadence likely won't be the last under a gray cloud of Democratic control...Any hope of a federal bailout to avert bankruptcy fizzled last week after Mr. Orr spoke with the White House, including Obama confidante Valerie Jarrett, according to city and White House officials.This is where blue governance has brought Detroit in the end: not even a liberal Democratic administration will step in to save the pensions of thousands of public workers and African Americans, condemning countless to having their pensions and health benefits gutted in bankruptcy court.
Progressive politicians, wonks, and activists can only blame big corporations and other liberal bogeymen for so long. The truth is that corrupt machine politics in a one-party system devoted to the blue social model wrecked an entire city and thousands of lives beyond repair. The sooner blues come to terms with this reality, the greater chance other cities will have of avoiding Detroit’s fate.
Related link: BROKE – After 50 Years of Democratic Rule Detroit Files For Bankruptcy
