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Jul 19 2013

Detroit Runs Out of Other People’s Money

Hiroshima was hit by a nuclear bomb. Detroit was hit by moonbattery. Today, Hiroshima is a wealthy, growing city, like Detroit used to be. Detroit, despite the $zillions that have been poured into it, is bankrupt:

Detroit’s bankruptcy petition paints a bleak picture for the Motor City: more than 100,000 creditors, more than $18 billion in accrued obligations and a homicide rate that is at its highest level in nearly 40 years. …

The decision to declare bankruptcy “comes in the wake of 60 years of decline for the city, a period in which reality was often ignored,” Gov. Rick Snyder wrote in a memo authorizing the case, which was filed with the bankruptcy petition.

That reality is that no city, not even an El Dorado like Detroit used to be, can remain solvent if you displace the population and let it be run by unions, crooks, and socialists.

Mr. Snyder said the city cannot meet obligations to its citizens or its creditors. He noted that citizens wait an average of 58 minutes for the police to respond to their calls, compared to a national average of 11 minutes. Only 8.7% of cases are solved, compared to a statewide average of 30.5%.

About 40% of the city’s street lights were not functioning in the first quarter of the year, and only a third of its ambulances were in service. Its population has declined 63% from its peak and there are about 78,000 abandoned structures.

As a result, Mr. Snyder said, even if the city could raise taxes to pay its obligations, its citizens would not be able to afford it. In any event, Detroit tax rates are at their current legal limits.

Again we see that the Democrats’ magic cure for all ailments — higher taxes — only buys time, while making the final reckoning all the more disastrous.

Detroit entered its death spiral when the population had decayed to the point that it was no longer possible for anyone but a leftist to be elected. The worse the economy gets, the more people are dependent on government, the more left-wing the political climate, the more taxes and regulations, the worse the economy gets. People interested in earning an honest living being able to escape speeds up the process.

The more people sponge off welfare rather than work for a living, the higher the crime rate, making the area all the more unlivable.

This is how something-for-nothing politics worked out for those still living in Detroit:

Detroit has been spending on average $100 million more than it has taken in for each of the past five years. The city’s $11 billion in unsecured debt includes $6 billion in health and other retirement benefits and $3 billion in retiree pensions for its 20,000 city pensioners, who are slated to receive less than 10 percent of what they were promised. Between 2007 and 2011, an astounding 36 percent of residents lived below the poverty line. Last year, the FBI cited Detroit as having the highest violent crime rate for any major American city. In the first 12 years of the new century, Detroit lost more than 26 percent of its population.

If liberals could do this to Detroit, they can do it to America as a whole. Fortunately Obama — despite getting 98% of Detroit’s vote last year and boasting that he wouldn’t — finds it politically expedient to let the city go bankrupt rather than wasting still more $zillions delaying the inevitable with a misguided bailout. But the country as a whole is on the same course Detroit set itself on in the 1960s when it began its decline.

On tips from Stormfax, Steven Crowder, Too Many Parasites, Bob Roberts, Born in 76, G. Fox, DJ, and Flintstones Walking Bus.



30 Responses to “Detroit Runs Out of Other People’s Money”

  1. Jess1 says:

    I, for one, am now sincerely glad that that Romney fellow, with his declaration about Detroit and bankruptcy was not elected whilst his opposite number, who promised that Detroit would NOT be visited by the courts was elected….

    Wait, what?

  2. Laurie says:

    .

    Detroit is a picture of what America’s future will be like if we let the Democrats and RINOs continue to run the government.

    And quite frankly, I see only one way out of this and it involves The Conservative People and the Second Amendment. The time for talk is over.

    …I volunteer to arrest Chris Matthews and drive him to the doctor for his much-needed lobotomy.

    .

  3. b Hussein O says:

    See what happens when y’all drive your SUV’s and set your thermostats at 72 degrees!

  4. professor hale says:

    Obama has to let them go down because presidents don’t have authority to propose spending. You don’t expect him to take money away from africans ans egyptians do you?

  5. Ummah Gummah says:

    .

    Libs are blaming “the rich”, speak Whitey for this:

    http://twitchy.com/2013/07/19/robert-reich-detroit-bankrupt-because-rich-abandoned-the-poor/

    Robert Reich: Detroit bankrupt because rich abandoned the poor

    So you’re not supposed to stand your ground and defend yourself, but moving away from those who mean you and your property harm is also bad.

    IMO R. Reich needs to put his money where his BIG FAT LIEberal mouth is and move to Detroit.

    .

  6. Bob722 says:

    Ayn Rand´s vision comes true in Detroit:

    The first city in America that has gone totally John Galt. All the productive people have left (the givers), leaving mostly only the non-productive (the takers)…..

  7. Spider says:

    Gaze upon the result of what liberal social engineering will do. This, even after those bleeding-hearts did what they always do, that is, to cover up a social cancer with Trillions of our tax dollars. Now, they’ll simply move along to the next city they can destroy, although there aren’t many left.

    For me, a high point of this mess is that the corrupt, communist-controlled unions, and the mindless fools who support them with their dues, will now get exactly what they deserve. Nothing!

  8. Butch Weehawken Fan Club says:

    The radio show after Butch Weehawken just floated the idea of a too big to fail bailout for the libtard’s crown jewel Detroilet. The deep pocketed U.S. taxpayers can pay up for 60+ years of libtard failure.

  9. Conan says:

    Bob722: “I prefer the terms Producers vs Looters, which is what they truly are.

    Detroit is the canary in the coal mine for the rest of the USA!

  10. whotothewhat says:

    If Detroit official were smart and lets be honest they aren’t. They would open Detroit up to Hollywood and the rest of the media world. Think how many millions could be sucked in by having Detroit be used as a backdrop to every post apocalyptic movie or TV show. Walking Dead or Mad Max or Terminator pick your meme. With boatloads of extras from gun toting gang bangers to zombie like drug addicts, even ready made corrupt officials. With tore up streets grumbling old factories and burnt out homes as ready made backdrops.

  11. bobdog says:

    Chicago and the state of Illinois are not far behind. We show most of the same symptoms as Detroit, by almost any metric you want to use: tax rates, unfunded tax liabilities, the welfare lunch line, crime rates, gang violence, literacy rates, single family households, unwanted pregnancies and abortions, healthcare costs, Obama approval rates, Democrat control of city and state governments, corruption, businesses escaping the city and the state, school dropout rates, degree of union control, decaying infrastructure, credit ratings, unpaid vendors, or poverty levels. They all suck, and are getting worse every month.

    If my wife didn’t have family all over northern Illinois, I’d be writing this with a Texas accent, down where the sane people are.

  12. p says:

    Judge with Democratic ties criticizes filing for ‘not honoring the president’…

    http://www.detroitnews.com/article/20130719/METRO01/307190099/Ingham-County-judge-rules-Detroit-bankruptcy-withdrawn?odyssey=tab|topnews|text|FRONTPAGE

  13. CGW409 says:

    Calling OCP,calling OCP,OCP please pick up the blue phone.

  14. Rotohammer says:

    Public employee unions. Bargaining. Pensions guaranteed by the state constitution. Running up massive debt. What could possibly go wrong?

  15. DJ says:

    Detroit’s demise can be summed up in one word: it begins with N and ends with R.

    Anyone that disagrees with that is a brainwashed sheeple.

    End of story.

  16. Doug says:

    So true, DJ. I lived in Detroit and was there when Cole-Man Young became mayor. When the apes and monkeys got their paws on the levers of power, it was all downhill from there.

  17. open up your wallet for the bailout comrade says:

    The radio reported a 40 year old Detroit garbage collector offered retirement with $92,000 a year for the rest of life. In the year leading up to retirement he worked as much overtime as humanly possible as the pension was based on earnings for that year.

  18. Wizard45 says:

    Hmmm, I wonder how many retired city workers live in Detroit. I’m willing to bet that it ain’t many. My guess is that they take their pensions and head for more hospitable climes.

  19. dear leader gave me a unicorn says:

    Pictures of the crown jewel of liberaltopia:

    http://refreshingnews99.blogspot.in/2013/07/detroit-in-pictures-urban-decay-of.html

  20. Sammy Nargis says:

    What’s left of the Grande Ballroom where many of the biggest names in rock of the 70s-80s played:

    http://www.detroityes.com/webisodes/2003/03daily/11-GrandeBallroom.htm

  21. Ragnarok says:

    I’m listening to Richard Wagner and looking at ruin porn pictures of Detroilet the liberal utopia who hasn’t had a Republican mayor in probably 60 years:

    http://www.detroityes.com/webisodes/2009/090707-EGBMethodist/02.htm

  22. […] Detroit Runs Out of Other People’s Money Hiroshima was hit by a nuclear bomb. Detroit was hit by moonbattery. Today, Hiroshima is a wealthy, growing city, like Detroit used to be. Detroit, despite the $zillions that have been poured into it, is bankrupt […]

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