Detroit’s bankruptcy: A warning to NYC

New York Post ^ | 07/23/2013 | Nicole Gelinas

[SeekAndFind]

What a difference four decades makes. In the mid-

[pallis]

If all the welfarism could be stopped in Detroit, the problems could be resolved. The people who have done so much to destroy Detroit would move on, and people who want to build businesses can move in, and fix it.

[neverdem]

Why? Then-Treasury Secretary Bill Simon said default would be “awful.” Fed chief Arthur Burns heard from Europe’s leaders — and relayed to Ford — that bankruptcy was “unthinkable.”

The city got its bailout and repaid its debt (or refinanced it — we still owe $2.1 billion from that era).

That's from 37 years ago!

[SeekAndFind]

[LibsRJerks]

If all the welfarism could be stopped in Detroit, the problems could be resolved. The people who have done so much to destroy Detroit would move on, and people who want to build businesses can move in, and fix it.

**

A loaded statement if there ever was one.

The problem is, in Detroit, as well as everywhere else, the people who destroyed it are NOT going to just “move on” They are here to stay and more are coming. They have needs — like food and shelter and health care ...and YOU and ME seem to always be on the hook for it.