Detroit Files BK

Discussion in 'Too Hot for Swamp Gas' started by G8trGr8t, Jul 18, 2013.

  1. G8trGr8t

    G8trGr8t Premium Member

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    Just in time for the two new labor attorneys to get seated on the NLRB. 0 could not even put up his own nominees he went and asked unions who they wanted. and that was the concession the pubs got???

    Who decides who gets how much in this bankruptcy?

    http://www.nbcnews.com/business/reports-detroit-files-bankruptcy-6C10678946

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  2. neisgator

    neisgator Belligerent Gator

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    Bush's fault.
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  3. Gatorrick22

    Gatorrick22 Well-Known Member

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    This is what will happen to our entire country if the Dems here in the U.S. keep electing these spending freak commies.
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  4. JerseyGator01

    JerseyGator01 Well-Known Member

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    The dominoes are finally starting to fall. This is just the beginning. So many financial train wrecks called cities in blue states.
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  5. Minister_of_Information

    Minister_of_Information I'm your huckleberry Premium Member

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    A strong argument for defined contribution plans, isn't it.
  6. diehardgator1

    diehardgator1 Well-Known Member

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    The liberals thought all you had to do was raise taxes and keep giving it away has now had to come to reality that it cannot last for ever. People will leave and take their tax dollars with them. Detroit has got just what they deserve. Wonder how much it will cost the rest of the country to bail them out.

    "Detroit lost a quarter-million residents between 2000 and 2010. A population that in the 1950s reached 1.8 million is struggling to stay above 700,000. Much of the middle-class and scores of businesses also have fled Detroit, taking their tax dollars with them.

    Read more: http://www.foxnews.com/politics/201...cipal-bankruptcy-in-us-history/#ixzz2ZR27PWG1
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  7. channingcrowderhungry

    channingcrowderhungry Well-Known Member

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    This. It's easy to promise the world when times are good and the buck stops in the future
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  8. oaklandroadie

    oaklandroadie Well-Known Member

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    Don't anyone dare blame it on the political party that has been running the city for decades.
  9. GatorNorth

    GatorNorth Premium Member Premium Member

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    Unlike many municipal filings that have or will occur, Detroit's is much easier to trace. Stubborn car makers who years ago stopped making product that the US consumer wanted together with trade unions that then made undesirable cars unaffordable. Throw in a few corrupt politicos, dismal leadership, too many people living on the public dole and here we are. Only real mystery is what took so long.
  10. GatorNorth

    GatorNorth Premium Member Premium Member

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    Actually, Romney's :)
  11. 108

    108 Premium Member

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    did they leave in that time period because of taxes or because the auto sector decline?
  12. Gatorrick22

    Gatorrick22 Well-Known Member

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    Of course it's not the fault of the (Dem) City leaders... :roll:
  13. 108

    108 Premium Member

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    seems inevitable given the amount of people that left Detroit between 00-10

    such a drop in tax revenue in such a short time would practically be impossible to overcome wouldn't it?
  14. leogator

    leogator Well-Known Member

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    Gross Pointe has no problem.
  15. diehardgator1

    diehardgator1 Well-Known Member

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    I think it is obvious it says they left and took their tax dollars with them
  16. 108

    108 Premium Member

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    yes i get that people left Detroit, but you are making this a partisan political issue

    to me, it seems Detroit would have gone bankrupt regardless given that kind of tax revenue leaving in that short of a time period
  17. MichiGator2002

    MichiGator2002 VIP Member

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    You can blame Detroit from around 60-00 for any departures from 00-10.

    Let's see if we get more phoney bankruptcy process like we did with GM.
  18. MichiGator2002

    MichiGator2002 VIP Member

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    There is absolutely a partisan issue reflected in Detroit insofar as that city has been run by unilateral implementation of a political ideology for half a century and this is the result. There is no point or purpose to softening the edges of that.
  19. gator34654

    gator34654 Well-Known Member

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    What democtratic run city will be next?
  20. channingcrowderhungry

    channingcrowderhungry Well-Known Member

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    Probably true, which is why you can't run your government like a giant ponzi scheme and expect to always have increased revenue in the future. It's the leaders fault for not making cuts when revenue decreases and setting up budgeting to reflect decreasing revenue. This significantly includes pension reform. I'd say it's only a partisan issue because those leaders that failed the city happen to be Dems.

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