How did Detroit get into a debt crisis? You’ve been watching a replay in Washington, DC the last month.
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With 40 percent of its budget going out the floor to debt and pension liabilities, Detroit has lost the ability to provide basic services. America is a rich nation, but the seeds of similar dysfunction have been planted with debt payments and entitlement obligations.
Politicians are simply using the debate on loans to their political advantage.
How long can we continue to run a world-leading country with a D+ infrastructure?
The Obama Administration would rather jump into a vat of boiling lava than make the tiniest cuts in federal spending.
America, meet Detroit. On the same day that the Detroit Financial Review Team declared Detroit in fiscal crisis, President Barack Obama stepped to the microphones to demagogue ANY federal budget cuts as a threat to public safety and the American economy.
This is a summary of the second debate between former Massachusetts Governor Mitt Romney and President Barack Obama in a real-time diary format.
Detroit’s City Council has finally seen the light. In a monumental 5-4 decision, the latest consent agreement offered by Gov. Snyder establishes a chance for Detroit to solve their decades of fiscal impropriety, a generation of political denial of problems that Detroit has to face before we can look forward to the next version of … Continue Reading →
For Detroit Mayor Dave Bing, the title of this situation could also be re-worded as “How I Stopped Worrying and Learned to Accept the EFM”. After all, Mayor Bing is the best option for an EFM as anyone could consider, and a 9-member finance council is far more than what other cities under both the … Continue Reading →