White House to announce up to $300M in new and 're-purposed' grants for Detroit

[HappyTexan]

Originally Posted by Kibby

It's not to responsibility of the US Taxpayer to 'bail-out' any city that faces bankruptcy due to corruption and Union pension deals. Where do we stop once we go down that road? They have to figure it out on their own and accept the medicine of their past bad decisions. Chicago is in just about as a bad a shape, do you expect us to give them a "bail out" next?

States that handle their finances and pension obligations can't be responsible for those who don't.
Period.

Just the next layer of "privatize profits and socialize debt".
We did it with the banking industry and now doing it with municipalities under the cover of "grants".

Moral Hazard is alive and well in America.

[shadowne]

Originally Posted by boner

Detroit councilwoman to Obama: We voted for you, now bail us out | Fox News

Bring home the bacon.

[CDusr]

Originally Posted by HappyTexan

Texas has a rainy day fund and it is spoken about quite often since 2008.
In fact there were plenty of hot debates as some officials wanted to drain it dry to close the budget gap.
Perry said no to that one; he said they could use some but not all of the rainy day fund and would have to cut to meet the budget gap.

"Rainy Day" funds they speak of, it's CAFRs they do not. Like I said I have never seen a fund called "rainy day" in an actual CAFR and I have seen plenty. Love to see one. They deliberately make it sound like a petty cash draw or a piggy bank. It's ridiculous. LOL

Yes always must throw the budget in there. Let's not talk about revenues, assets or business activities.
Here ya go. Prime example.
CA CAFR: Parks ‘found’ $54M, $2.3 billion more now ‘found;’ full $600B next?

Oh here is that Rep. Need more like him. Look how he looks around when he mentions the 4 letter word. LOL
Oregon legislator reads CAFR, finds billions, ends budget deficit crisis; California can do same - Los Angeles LA County Nonpartisan | Examiner.com


Report: State Agencies Have $4.9 Billion In Ending Fund Balances - YouTube

[Spaten_Drinker]

Originally Posted by urbanlife78

You don't get to pick and choose where our tax dollars go.

Yes we do. We have reps in Congress who speak for us. Where was OUR input?