Detroit Files For Chapter 9 Bankruptcy

Barack Obama ?@BarackObama 17 Oct

President Obama: "When Gov. Romney said we should just let Detroit go bankrupt, we said thanks but no thanks."

When Honda,has built a high performance ride-on lawn mower capable of reaching speeds up to 130 mph.

And, yes, it can still cut the grass.

The so-called Mean Mower started out as a production Honda HF2620 Lawn Tractor before the team replaced its stock 20 hp motor with the 109 hp 1,000 cc V-twin from a Honda VTR1000 Firestorm sport bike along with its six-speed transmission and reengineered the suspension to handle a set of ATV wheels and tires.

We need more inventors....

Blue model defenders will point to the cruel exodus of General Motors, the unjust outsourcing of American manufacturing, and the general unfairness of life in the big city as the culprits in the slaying of Detroit. But these champions of the marginalized should keep a few facts in mind.

Detroit has been spending on average $100 million more than it has taken in for each of the past five years. The city’s $11 billion in unsecured debt includes $6 billion in health and other retirement benefits and $3 billion in retiree pensions for its 20,000 city pensioners, who are slated to receive less than 10 percent of what they were promised. Between 2007 and 2011, an astounding 36 percent of residents lived below the poverty line. Last year, the FBI cited Detroit as having the highest violent crime rate for any major American city. In the first 12 years of the new century, Detroit lost more than 26 percent of its population.

And now Detroit’s desperate request for a bailout has been turned down by the Obama White House.

Progressive politicians, wonks, and activists can only blame big corporations and other liberal bogeymen for so long. The truth is that corrupt machine politics in a one-party system devoted to the blue social model wrecked an entire city and thousands of lives beyond repair. 

In October of 2012, President Barack Obama triumphantly declared :

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

On July 18, 2013, Detroit went bankrupt,,

This is true....

I don't agree with WSC about much-

I think he may not like me...

But he is spot on here.....

The tax base decline is the biggest issue-

What will replace the automakers?

What makes me want to puke is that most of you seem to be joyful that Detroit is bankrupt ? An American City ! Your City too ! And then blame black people, as if no other city became a ghost town throughout our history !

Yes, maybe the auto industry built too many big gas guzzlers in the 1960-1980s. But remember this you foreign lovers, they built the tanks that saved your As from speaking German, Japanese.

Then during the gulf wars when they tried to recover and began offering 100,000 mile warranty on their vehicles, did you step-up and buy to help save them, like we did by buying war bonds in the 1940s ? NOOOOO ! You laughed at them and bought the same German, Japanese, Korean vehicles. Now you think you're a proud American ! 

All you foreigners can kiss my As

Cobwebs.

This has happened before and will again. 

Don, why is that great American car company, GM, building a new  $1.3 Billion plant in China instead of Detroit? Shouldn't they be helping the American economy and workers instead of moving good paying jobs offshore? Or are they just another greedy corporation trying to cut costs and maximize profits at the expense of the American worker?

Dannyboy, How old are you ? 18?

GM was paying a decent wage. If they build in China, they can pay whatever. It's not like they closed up shop in the US. they are still here. They are not like Walmart, ripping the employees off.

I'm 49 thanks for asking. You didn't answer any of my questions. Yes they are still here that's not the point. Would you not agree that it would have been better for the US economy and US workers if GM would have built the plant in Detroit rather than out of the country?