Detroit Too Big to Fail!!! Bail Them Out

A new national poll from Quinnipiac University shows that a majority Democrats believe the federal government should bail out Detroit, but an even larger majority of Americans oppose such a move. Fifty-one percent of Democrats support Washington providing federal assistance to Detroit, which last month became the largest American city ever to seek bankruptcy protection

NO BAILOUT for Detroit

Flip Floppers both Democrats and Republicans.

Republicans were for bailouts before they were for against it.
Democrats were against bailouts before they were for it.

Political theatre Prima Donna's stop throwing good money after bad I swear you all in Capitol hill that rhymes with capitol shills just stop it.

Listen to the people for once.

They made their bed in Detriot they are failing because the fact is the are too big their problems are not my problems or any other citizen or states problem.

Call it tough love or whatever the endless champagne dreams and caviar wishes on a Walmart paycheck needs to END.

Cowboy up Detroit and GIT R DONE yep it ain't gonna be easy, it ain't gonna be pretty, but when it's all said and done you will be better for it.

My opinion others will vary.

reply to post by neo96


uhmmmm no. No bailout.

Let them chapter 11 and start over.

Or just let OCP build New Detroit and let RoboCop protect the streets.

Everybody will get a bailout sooner or later:

Moody’s report found that the median funding level of pension liabilities to state revenues for all 50 states in 2011 was 45 percent. But the levels varied widely from state the state. Illinois, where legislators have repeatedly failed to enact sweeping pension reform, had the highest pension liabilities, nearly three and a half times what the state raises in revenues. Nebraska had the pension fund deemed to be in the best shape, with liabilities of just 6.8 percent of revenues.

Wash Post

Nobody is funding their pensions so unless there is a massive die off, huge benefit cut or massive tax increase every single state will be unable to pay its debts.

It's pretty funny how people react to Detroit. Like it's some crazy unheard of anomaly when every single state in the nation is looking down the barrel of the same gun. The only difference is they can get away with the lies and fantasy for the time being.

reply to post by thisguyrighthere

Moody’s report found that the median funding level of pension liabilities to state revenues for all 50 states

Will say damn thing to all 50 states their problems are not mine or any others sort their own crap out.

Bailouts is nothing but rewarding people for being abject failures they made their beds now they get to sleep in them.

reply to post by neo96


There is going to come a time when the government runs out of money. That time is sooner rather than later.

With the looming debt ceiling debate, there are going to be those who won't want the government to spend another dime.

Unless. . . . .

Unless they federalise Detroit.

reply to post by beezzer


They already have ran out of money or not funny how the debt hasn't climbed in over 2 months strange I think then they turn around and raise taxes, they print more cash, they borrow more cash and suddenly think one group is more important than the whole beast of this country.

This nation is so bloody screwed up materialistic, greedy people I have ever seen in the world.

They are always stuck on their ID's.

The I want it all, I want it now, and they sure don't give a constitutional crap how generation.

cnsnews.com...

I'd rather bailout a US City than bailing out Banks.

Shouldn't the Federal Government assist it's States and Cities in a time of need?

Bail them out with what money? The federal government is $16 trillion in debt...

They're in WORSE shape than Detroit...

Originally posted by AlienScience
I'd rather bailout a US City than bailing out Banks.

Shouldn't the Federal Government assist it's States and Cities in a time of need?

Bailout the auto workers UNION, and GOVERNMENT UNIONS ?

I say no the Auto union was already bailed out.

reply to post by neo96


Too big too fail alright.



-SAP-

reply to post by AlienScience

Shouldn't the Federal Government assist it's States and Cities in a time of need?

Shouldn't states and cities live within their means and save for rainy days.

peace

reply to post by neo96


We could kill several birds with one stone here. We should take all of the corporations that we bailed out and the entirety of Wall Street and make the move into Detroit. I'm serious. It would bring in lots of money and it would give those corporate entities a chance at redemption.

Bailing out anything in the name of capitalism just doesn't make sense to me.

Washington DC has said time and time again...Detroit will not be bailed out.
I don't have a problem with that.
There's a whole lot of cities waiting ni the wings to see what will happen in Detroit...to see how they will proceed with the increasing mountains of debt.
Some are already paring back....ie Chicago retirees have been thrown into Obamacare as of January 1, 2014.

I have heard that LA and Chicago are two major cities nearing bankruptcy....if Detroit gets bailed out...where would it end.

It's about DAMN time our cities learned to live within their means.
We have to, or at least it used to be that way.

The State Capitol of Michigan said they won't be bailing Michigan out....they're still digging out of their financial mess.
And why should they? They've been telling Detroit for some time to wake up and straighten then house.

Here's the Detroit bankruptcy thread:
www.abovetopsecret.com...

reply to post by neo96


What will happen is that the US government will assume all of Detroit's debt, and Detroit will just become a federal entity.

Imagine the DMV, only the size of Detroit.

Originally posted by AlienScience
I'd rather bailout a US City than bailing out Banks.

Shouldn't the Federal Government assist it's States and Cities in a time of need?

Isn't that just the problem? We burned all the money that might have existed without causing deep, lasting generational pain with the bank bailouts. The cupboard is bare and the cookie jar clinks empty.

What can we do though? Really? Honestly? This was what Detroit knew would happen and counted on, IMO. In the end when it has to be faced in FULL reality? What are the choices? Bail them out now, bail them out when it gets worse and far more to do it with ...or literally cede Detroit to crime and walk away ..forsaking all who still reside in it's city limits.

The latter option? Don't agree too quick. Who knows what the area we live in becomes by natural course or political manipulation over time. There may come a day where any of us face being on the wrong side of that border ....and will we be fine with being written off as living in a city of the dead?

BEFORE BAILOUT THO..... I call for INDICTMENT and that's every last sorry bastard in Detroit Government that didn't JUST get there. ALL OF THEM. Let Juries decide how many end their days as inmates. They've condemned a city of Americans to a fate even worse, bail out or not.

reply to post by Cuervo

We should take all of the corporations that we bailed out and the entirety of Wall Street and make the move into Detroit. I'm serious

I know you are, but no prop up already bad spending habits just kicks the can down the road.

So no.

The endless rob Peter to pay Paul has got to end.

What happened to kill Detroit? This must be asked so it doesn't happen again... bailout or not.

The answers to this question will likely be based as much on political slant as common sense. In fact, all things considered, politics will almost surely outnumber common sense.

Most of the following is from memory alone...

History - It was all going fairly well in Motown until the Japanese began sending small, well-built, inexpensive and gas-easy vehicles and when this merged with the Arab Oil Embargo, all bets were off. Over the years and decades that followed, the UAW refused to recognize the crisis that their employers were facing.

American cars were labeled 'dinosaurs'... gas hungry and they were unquestionably, then, very poorly built. But, wages and benefits at the time saw UAW auto workers at the paramount of what was then the blue collar sector of the now extinct middle class. They weren't giving anything to GM, Ford or Chrysler and that was a form of long-term suicide.

Japanese automobiles... much sounder in quality and in the case of Toyota and Nissan (Datsun, then), it was a turkey shoot. It took the US government bailing out the Big Three to save what was left to try and start again. Lee Iaccoca and Chrysler made smashing headway in changing course and paid back their debt in record time with sales of their K-Car series. Unfortunately, the UAW wasn't impressed and as a result, the rebound was only temporary.

Now, it may sound as though this is nothing but an anti-union rant... but, it's not. The wildcat strike against GM in 1937 that gave birth to the modern UAW, was desperately needed. The workers of the day were treated horribly. But... one case of blind-eye-tis shouldn't HAVE to lead to another. Detroit was in decline and the union masters could see this... but, they ignored it.

Now, here we are... Detroit is dead. Do we break out the shock paddles and give it another bail-out zap? Or do we give it a proper funeral and then, let the survivors begin again from scratch?

No cities, counties, states, banks, foreign countries should receive aid or be "bailed out" while the Government itself is 16 Trillion in debt. The fiscal morons responsible for their situation will only learn and change if they are made to feel the consequences of their actions. My stance is in no way "cold", its actually the most compassionate. Adults are no different than children in this regard; if they do wrong they should know it, feel it and then be educated on how to change it. Continually bailing broke entities out only perpetuates the problem.