Detroit Files For Chapter 9 Bankruptcy

Matt Dillon is now at the WSJ? I wondered what happened to him after his acting career fizzled.

Seriously though those bond holders are going to lose a bunch of money.

Ok, that right there is some funny stuff.

Apparently I'm of the rare breed of athiest conservatives. Maybe I should start a non-profit and file for tax exempt status.

Detroit’s health-care benefits are generous even by the standard of its free-spending public-sector peers. On a per-household basis, the city owes more for retiree health care than any of the cities at the center of the 30 largest U.S. metropolitan areas except for Boston and New York. Retiree costs make up two-thirds of the city’s annual health-care bill, swamping those for current workers.

Estimated at $5.7 billion in 2011, Detroit’s OPEBs are certain to grow when Orr’s office completes its revaluation of the costs. They already surpass most of Detroit’s other liabilities, including general-obligation debt ($1.1 billion) and pensions (recently revised higher to $3.5 billion).

https://www.bloomberg.com/news/2013-07-02/retirees-medical-bills-are-bringing-down-detroit.html

The public sector unions sunk Detroit, there is no doubt about it.

What killed the city ? Repulsicans !

They bought imported vehicles. Look around, every repulsican that you know drives an import. So don't blame Detroit, look in the mirror as you think of yourself as a proud American.

And you voted for them. You're ashamed to admit that you are one, so you call yourself, Independent, or Libertarian !

So I don't need to read all your phony posts, as you gleefully suggest that we'll see another city soon.