"Osama Is Dead And Detroit Is Alive!" ........Not So Much.

Washington Examiner ^

[7thOF7th]

On October 13, 2012, President Obama boasted to Americans in his weekly address that he refused to “let Detroit go bankrupt.”

“[W]e refused to throw in the towel and do nothing,” Obama said. “We refused to let Detroit go bankrupt, I bet on American workers, and American ingenuity and three years later that bet is paying off in a big way.”

Of course Obama was referring to the auto industry – alluding to Mitt Romney’s unfortunate New York Times op-ed headline from 2008.

With the news of Detroit filing for bankruptcy today, his line takes on new meaning.

[7thOF7th]

Just another burning hulk of failed policy on the scrap pile of a failed Presidency.

[USFRIENDINVICTORIA]

Here's what I wrote on March 2, 2013:

IMHO, the "real" agenda is hinted at in this comment: "Detroit needs a bailout. A reliable source of funding is required to invest in the “New Detroit” project, which will turn the city into an oasis of urban farming and renewable energy."

Here's my prediction: The EM takes over, makes some high-profile "painful" cuts, and thus establishes his bona fides as a hard-nosed financial manager. Then, he announces that Detroit needs a bailout. He promotes "investment" in the “New Detroit” project by the federal government. Obama then has all the excuse he needs to divert a billion or so to the cause.

And this follow-up comment:

Did I say “a billion or so”? How naive. My only excuse is that I’m old enough to remember when a billion dollars was a lot of money. I should have said “$30 billion or so.”

Here: http://www.freerepublic.com/focus/f-news/2992860/posts?page=35#35

Now, I see how naïve I really was. This bankruptcy is going to cost a lot more than $30 billion.

[diamond6]

Romney's famous quote was correct. Too bad we had to wade through five more years of graft, corruption, billions of government dollars, and massive build up of deficit spending to find out he was right.

Once again, ZERO has been proven wrong.

He sure can pick 'em!!!

[Sequoyah101]

I saw that headline and got excited for just an instant.

[Gabrial]

FWIW - Wall Street Journal today printed an article (Page A5) that stated the Emergency Manager of Detroit went to Valerie Jarrett asking for a bailout to stave off bankruptcy. Jarrett said no.

It really tells you who is making the decisions in Washington (and it is not the guy reading the teleprompter).

[reg45]

Welcome to Debtroit.

[A.A. Cunningham]

[yefragetuwrabrumuy]

[Flick Lives]

“[W]e refused to throw in the towel and do nothing,” Obama said. “We refused to let Detroit go bankrupt, I bet on American workers, and American ingenuity and three years later that bet is paying off in a big way.”

Detroit is Solyndra 2.0.

[depressed in 06]

I too.

[Bon mots]