Many on the right look at this with glee.
This is what happens when you let the Democrats run a city.
Sorry friends but most major cities in the U.S. are under the watchful control of Democrats.
Detroit’s demise came about for various reasons; mismanagement is just one of them.
They also went through a white flight stage during the late 1960s after the riots; creating a loss of tax revenue.
In addition the outsourcing of decent paying manufacturing jobs created another drain on income.
This of course is a product of corporate greed. Why pay a living wage to American workers when we can get third world people to work for pennies?
You don’t think this is another case of a vulture capitalist like Romney coming in and plundering the coffers do you?
Most likely not, but the retirees are concerned about their pensions.
IMHO pensions should get top priority in any and all bankruptcy cases. These are people that have worked long and hard with the expectation of retiring with their delayed compensation providing them with a comfortable lifetime in retirement.
It bothers me to think these people may have to become Wal-Mart greeters just to survive in this economy.
In other news it was reported on PBS this morning that Evangelicals are the fastest growing religious sect in Brazil. At this point all the good people in Brazil should stand back and take a look at what is happening; the evangelicals have been complicit in creating the mess we have in the U.S. today. You may want to join together and stop this menace before it gets control of the government.
And like the rest of the world I wait anxiously for the baby to arrive.
- Retirees in Bankrupt Detroit Told They Will Have to Make Concessions (cnsnews.com)
- We Love Detroit, Even If You Don’t (detroit.jalopnik.com)