WHAT?? MSNBC host Ed Schultz blames Republican policies for bankrupting Detroit.

Originally posted by Redden
Are you kidding me? Democrats have been in charge of detriot since the 60's. There is no way you could blame republicans for that.

Liberal policies have placed America $16 trillion in debt and bankrupted Detroit.

edit on 22-7-2013 by Redden because: (no reason given)

17 trillion.

And let's not even bring up the 90 trillion in UNFUNDED liabilities.

reply to post by NOTurTypical

17 trillion.

And let's not even bring up the 90 trillion in UNFUNDED liabilities.

OMFG!

Sorry but this lie has to stop, that's the TOTAL National Debt, not what the Obama administration put on the books. Jesus effing Christ on a honey bun.

Your blaming Obama for every penny of the debt when he is only responsible for the debt he incurred after taking office.

Plus, you are also blaming Obama for private sector debt!

Holy cow!

reply to post by HauntWok


What lie?

Unfunded means money owed that is paid to government programs, basically promises to pay.

The big 3 are unfunded liabilities Medicare,Medicaid,Social Security.

The federal government faces unfunded liabilities totalling $84 trillion, with more than $30.3 trillion owed to public debt holders, federal employees and current retirees in the form of Social Security and Medicaid benefits, according to a recent report by the nonpartisan National Center for Policy Analysis. Read more: dailycaller.com...

Backed up here here too:

www.usdebtclock.org...

Unfunded Describing any liability or other expense that does not have savings or investments set aside to pay it. That is, the party responsible for paying an unfunded liability pays for it out of current income or by borrowing. The risk of an unfunded liability is that a payee may not receive that which he/she is entitled to if the payer goes through a difficult financial period. It also increases the payer's current liabilities.

financial-dictionary.thefreedictionary.com...

Given the fact that more people are getting more in benefits than paid in which accounts for that deficit, then to offset that deficit the country borrows from the EU, and China etc.

Meaning they have creditors means the money owed to people, since the government owes more money to people than they take in creates a deficit, and it also creates unfunded liabilites.

A liability is something owed on because the cash doesn't exist to pay for it.

The current spender in chief has spent 7 trillion all by his lonesome and the debt will reach 20 trillion by 2016, and every policy, and action taken has increased that debt.

I think that there are a multitude of parties, and individuals to blame, on both sides of the political spectrum. A big part of the root issue with Detroit can be attributed to the race riots in the 60's, which resulted in many a business relocating to the suburbs of Detroit. The "white" businessmen and their families left the city in droves just before, and certainly after, the race riots took place.

The city and surrounding area is dominated by the auto industry. When the top brass at GM decided it was cheaper to build cars overseas, this took a huge toll on local employment numbers. Instead of negotiating in good faith with the unions, they decided to pack up their bags and manufacture their cars elsewhere.

You can blame the unions, but the ultimate decision was by the top brass at the Big 3 automakers. And, yes, you can complain about all of the "benefits" that accrued to the average unionized auto worker, but these benefits all pale in comparison to the top brass country club atmosphere at GM, Ford, and Chrysler, with their private lunch rooms, cozy offices, company cars, and mega-bonuses.

Combine these factors with a corrupt and racist series of Detroit mayors, one of the most recent of which is now sitting behind bars in a jail cell due to criminal behavior, and you have a recipe for disaster.

So, yes, there is plenty of blame to go around. The bankruptcy filing is an attempt to wipe the slate clean and start over.

reply to post by Indigo5


The fact is the autoworkers retirement fund is not linked to Detroit. Get your facts right the UAW and Detroit pension fund are not related. Nice try though troll

This is what happens when people trade debt with each other and call it "value". Bankruptcy is what will eventually happen to every person, city, and nation on this planet. That's all a monetary system based on (symbolic) debt can produce... excepting the creditors at the top of the pyramid.

The argument over which political party is to blame is ridiculous. It's OBVIOUS that the debate is pure distraction from the real meat of the issue, and apparently extremely effective at that.

reply to post by neo96

What lie?

The lie that Obama has clocked up 17 trillion in debt since he took office.

He didn't spend that much, we were and have been in debt for a long time before Obama.

Oh wait, I forgot, according to some people, the years between 2000, and 2008 never happened and nothing existed till January 20, 2009 then all of a sudden we existed in a hellhole dystopian future.

Originally posted by HauntWok
reply to post by neo96

 

What lie?

The lie that Obama has clocked up 17 trillion in debt since he took office.

He didn't spend that much, we were and have been in debt for a long time before Obama.

Oh wait, I forgot, according to some people, the years between 2000, and 2008 never happened and nothing existed till January 20, 2009 then all of a sudden we existed in a hellhole dystopian future.

Funny didn't have a problem blaming the last administration for all that debt.

So the current one gets a free pass as usual.

Originally posted by HauntWok
This simply isn't true.

Extreme leftist policies bankrupted Detroit. It had nothing to do with the Republicans.

To add, blame republicans, blame democrats. . . . unless we get our collective butts in gear, AMERICA will look just like Detroit!!!!!!

reply to post by neo96

Funny didn't have a problem blaming the last administration for all that debt.

The last administration was to blame for the debt they incurred. The one before that had a budget surplus that was actually paying down the debt for the first time in decades.

So the current one gets a free pass as usual.

No, he gets the blame for the debt he has put on the books. nothing more, nothing less.

reply to post by beezzer

Did the truth shock you Beezzer?

reply to post by sheepslayer247


That's what I am saying......both parties share blame for run on manufacturing in America. Democrats like to conveniently forget they were a party to it. Hell, America doesn't even assemble any smartphones in the U.S. We have to wait till Motorola's MotoX is made in Texas, which will be the first. That's a travesty.


While both parties nationaly hold blame for the de-industrialization of America, it's the Democrats who ran Detroit as elected officials that grossly mismanaged the City. Detroit's leaders reacted too slowly or worse, not even at all, as things fell apart around them. No one wanted to make the tough decisions that had to be made, making them even worse in the long run.

reply to post by HauntWok

The last administration was to blame for the debt they incurred.

Didn't stop them from blaming it for spending the full amount for which they did.

he one before that had a budget surplus that was actually paying down the debt for the first time in decades.

Now this is lie as there was no surplus.

The claim is generally made that Clinton had a surplus of $69 billion in FY1998, $123 billion in FY1999 and $230 billion in FY2000 . In that same link, Clinton claimed that the national debt had been reduced by $360 billion in the last three years, presumably FY1998, FY1999, and FY2000--though, interestingly, $360 billion is not the sum of the alleged surpluses of the three years in question ($69B + $123B + $230B = $422B, not $360B).

Followed by:

While not defending the increase of the federal debt under President Bush, it's curious to see Clinton's record promoted as having generated a surplus. It never happened. There was never a surplus and the facts support that position. In fact, far from a $360 billion reduction in the national debt in FY1998-FY2000, there was an increase of $281 billion.

The Clinton surplus Lie Exposed

Simple fact is Goverment should be runnning neither surplus nor deficits should be net neutral.

No, he gets the blame for the debt he has put on the books. nothing more, nothing less.

Awesome as Obama has spent as much in half the time as the last guy did in 8 years compounded by his wars, his student trillion dollar debt, and the massive debt that will be incurred by the care act.

Well, I heard, and his is just unsubstantiated hearsay I have yet to look into, but, I was told that a judge ruled that Detroit can't claim bankruptcy due to some law. If true, then all this finger pointing is even more meaningless.

I do agree with what was said here regarding Detroit being the future of our country. I guess I couldn't have moved far enough from that festering cancer unless I left the U.S., or better yet, left the planet altogether.

Originally posted by sheepslayer247
reply to post by neo96

 

Yes, his comments are just as partisan and irrelevant. I tried to convey the point that both his comments about Republicans and the OP's comments about Democrats, are both false.

The truth lies in the middle.

Except one tiny detail you are leaving out. Democrats controlled Detroit for the last half a century, not the Republicans. They were in charge, and their policies were implimented.

Originally posted by HauntWok
reply to post by NOTurTypical

 

17 trillion.

And let's not even bring up the 90 trillion in UNFUNDED liabilities.

OMFG!

Sorry but this lie has to stop, that's the TOTAL National Debt, not what the Obama administration put on the books. Jesus effing Christ on a honey bun.

Your blaming Obama for every penny of the debt when he is only responsible for the debt he incurred after taking office.

Plus, you are also blaming Obama for private sector debt!

Holy cow!

Did I mention Obama? No I did not. I place the blame squarely with Roosevelt and the New Deal and anyone who supports it.

reply to post by HauntWok

The lie that Obama has clocked up 17 trillion in debt since he took office.

Did I say that? No, I merely corrected someone who claimed the National Debt was 16 trillion.

But if you want to talk lies as far as the debt goes, Obama was lying when he promised to cut it in half. And celled the debt incurred under GWB to be "unAmerican" and "unpatriotic."

Let's settle this easily enough.

What policies enacted by Detroit City government led to the demise of The Motor City?

Anyone?

Originally posted by beezzer
Let's settle this easily enough.

What policies enacted by Detroit City government led to the demise of The Motor City?

Anyone?

Racism according to this:

articles.washingtonpost.com...

With current events i think I believe it too.

reply to post by HauntWok

The one before that had a budget surplus that was actually paying down the debt for the first time in decades.

Stop pulling out that sad old talking point. For one thing the surplus was a PROJECTED surplus, not an actual surplus of cash. And Clinton went kicking and screaming into that projected surplus by a Republican congress.