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This whole apocalyptic view in politics now is really tiring. It's never too late to save anything. These are all man made problems and have man made solutions. Detroit has some serious downsizing, restructuring, and cutting to do and then eventually you will see the city rebound.
Nonsense. There is no interest in fixing Detroit in any of this. What is being done is to stop the hemorrhaging with the bills paid by various creditors - a major one being Detroit retirees. When all is said and done the Detroit residents will likely still have no real services and bad schools just as they do now.
This thing is to protect Michigan and the Detroit suburbs. Not Detroit.
One has to remember that bankruptsy is a method of solving what can't be solved any other way in reality. Sure it means problems going forward but at it allows you to move forward not keep in same and worsening circumstances. Its a last resort solution for debt which is also why you have to qualify first.
One has to remember that bankruptsy is a method of solving what can't be solved any other way in reality. Sure it means problems going forward but at it allows you to move forward not keep in same and worsening circumstances. Its a last resort solution for debt which is also why you have to qualify first.
For whom?
It may well protect Michigan and the Detroit suburbs at the cost of much pain for Detroit retiree and Detroit residents.
Can't tell whose ox is being gored without a program.
But I guarantee you there is nothing good in this for Detroit or its retirees.
Conservatives are not very keen about judging economics, so I'm willing to bet Detroit, GM, and Chrysler will all be around and thriving in the coming decades.
GM and Chrysler are doing fine with their foreign factories. You say Detroit will rebound --- how will it? Do you think Obama is going to do anything to turn around the export of jobs? Without jobs, there will be no rebound. Detroit was the result of our once great manufacturing industry. Clinton sold Americans out.
It may well protect Michigan and the Detroit suburbs at the cost of much pain for Detroit retiree and Detroit residents.
Can't tell whose ox is being gored without a program.
But I guarantee you there is nothing good in this for Detroit or its retirees.
Well --- when it comes down to it, government retirees aren't really all that special -- they like everyone else might have to learn to tighten their belts some.
Just like normal Americans have had retirement age raised and taxes that rob them of much of their earnings, sometimes you just have to deal with downturns.
GM and Chrysler are doing fine with their foreign factories. .
Actually, they aren't, as the EU's economic woes have hurt GM and Fiat (Chrysler's parent). Fiat's automotive business is overwhelmingly concentrated in Europe.
Well --- when it comes down to it, government retirees aren't really all that special -- they like everyone else might have to learn to tighten their belts some.
Just like normal Americans have had retirement age raised and taxes that rob them of much of their earnings, sometimes you just have to deal with downturns.
Just wondering... what part of Detroit has no money to cover the pensions, don't you understand?
Does it have money to pay Police and Fire? Does it pay the City Council? Then yes it has money to pay its retirees.
And by the Constitution of Michigan the retirees get paid first.
Have you not been able to follow this discussion?
This discussion seems reversed. Those who normally call for accountability and responsibility are suggesting that one should get out from under if you don't have the money easily available.
Is this a new policy or only true for the retirees and the black and poor.
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