Kevin Fobbs
Governor declares financial emergency for Detroit - - no bacon bailout in sight
By Kevin Fobbs
On Friday, March 1st, Michigan's governor, Rick Snyder (R) made the decision to declare a financial emergency in Detroit and to rip the financial decisions out of democrat city officials' hands. City residents are facing a crushing $14 billion long term debt and a $327 million current budget deficit, according to Fox News.
Nearly three months ago, Detroit City Councilwoman JoAnn Watson pleaded to her fellow council members that President Obama owed the motor city a $200 plus million bacon bailout. The president did not take the bait or the call, while the city continued to plummet further into the morass it had created under liberal democrat leadership. Now the other financial shoe has dropped!
The city has been running their financial budgets on the backs of city residents for decades, while mismanaging funds, and granting big city liberal-backed long term union benefits. Now, the city officials will have to face the harsh truth, that they cannot wring more taxes out of businesses or residents when there is no money to be had.
In fact, if the city's mayor Dave Bing and council leaders had not worked out an agreement last year to let the city borrow more money, the nearly quarter billion dollar deficit would be close to a billion.
This continuing big city budgetary nightmare is a harbinger on what other large cities across the nation are facing. Other liberal city leaders have also imposed tax policies and overly generous union long-term contract liabilities on their cities as well. The result has left their own city coffers financially crippled.
Just last year the city of Stockton, California had to file for bankruptcy. With its population of 291,707, it became famous for being the largest to do so. Detroit needs to follow suit, and join this infamous club instead of continuing to pursue the finger pointing blame game.
This sad refrain has echoed in the corridors of Detroit's city hall for years. The democrat public leaders would either blame the state republican legislators or a state republican governor or a republican president for their financial ineptitude.
Well, the truth is finally spilling out of their unbalanced budget books. The liberal leaders of this big city Titanic floating albatross have hit the iceberg of reality. Now the city is sinking and sinking fast.
The city of Detroit is no longer the once enviable capitol of the automotive industry. Instead it has become a rusted out junk yard, where its previous signs of prosperity have withered and become now barren land.
What is to become of the citizens who kept voting these charlatans masquerading as responsible elected officials? Did they unknowingly succumb to a culture of corruption and deceit which wove its web throughout the neighborhoods? Did they accept the leaders who traded in favors to keep the wool pulled over the heads of residents?
For decades, at every chance, the political poverty pimps would go to barber shops and beauty salons and even in churches passing out promises and placing blame at the feet of "The Man." "The Man; i.e. code word for 'White Man' is doing this to you, and that is why you are suffering." This same inane and ridiculous refrain has been passed down for several generations, until it has become just a tragic utterance, now blessedly falling on deaf ears.
The truth is that these large and small urban financial nightmares have been largely run by minority leaders for decades. There is no "Man" in sight. These black leaders have wheeled and dealt away financial responsibility by paying ever larger union retirement pensions, salaries and bonuses. With each election they falsely promised better times were just around the corner. In reality they were delivering the citizens into an awaiting monetary wasteland.
What is the lesson that residents as well as leaders of Detroit and other urban financial failures to take away from this?
Financial crisis is never solved by borrowing more and taxing even more. Citizens have the power to tell their leaders to "Just say no!" Say no to the unions that want more salaries and benefits. Say no to the workers that insist on larger and larger retirement packages for doing less and less. Say no to borrowing against the future when bankruptcy is the only future that is guaranteed.
These liberals and democrat leaders in the city of Detroit have to understand what Obama does not seem to understand or accept: 'There is no magic money tree that you can shake."
Governor Rick Snyder's emergency manager for Detroit has to move swiftly. If there is truly no money to pay workers, then lay them off or reduce their hours. If Detroit cannot pay its bills then those services have to be reduced and, or privatized. Even city assets should not be left immune to reducing the monumental deficit.
Detroit has to swallow this bitter but well deserved financial pill, and the emergency manager will deliver the medicinal remedy. Soon, Michigan's largest city will then become the sixth city in the state to meet that same fate. Hopefully for its residents, it will survive, because there is no bacon bailout in sight!
_______________
(Click – let me know what you think)
© Kevin Fobbs
March 2, 2013
On Friday, March 1st, Michigan's governor, Rick Snyder (R) made the decision to declare a financial emergency in Detroit and to rip the financial decisions out of democrat city officials' hands. City residents are facing a crushing $14 billion long term debt and a $327 million current budget deficit, according to Fox News.
Nearly three months ago, Detroit City Councilwoman JoAnn Watson pleaded to her fellow council members that President Obama owed the motor city a $200 plus million bacon bailout. The president did not take the bait or the call, while the city continued to plummet further into the morass it had created under liberal democrat leadership. Now the other financial shoe has dropped!
The city has been running their financial budgets on the backs of city residents for decades, while mismanaging funds, and granting big city liberal-backed long term union benefits. Now, the city officials will have to face the harsh truth, that they cannot wring more taxes out of businesses or residents when there is no money to be had.
In fact, if the city's mayor Dave Bing and council leaders had not worked out an agreement last year to let the city borrow more money, the nearly quarter billion dollar deficit would be close to a billion.
This continuing big city budgetary nightmare is a harbinger on what other large cities across the nation are facing. Other liberal city leaders have also imposed tax policies and overly generous union long-term contract liabilities on their cities as well. The result has left their own city coffers financially crippled.
Just last year the city of Stockton, California had to file for bankruptcy. With its population of 291,707, it became famous for being the largest to do so. Detroit needs to follow suit, and join this infamous club instead of continuing to pursue the finger pointing blame game.
This sad refrain has echoed in the corridors of Detroit's city hall for years. The democrat public leaders would either blame the state republican legislators or a state republican governor or a republican president for their financial ineptitude.
Well, the truth is finally spilling out of their unbalanced budget books. The liberal leaders of this big city Titanic floating albatross have hit the iceberg of reality. Now the city is sinking and sinking fast.
The city of Detroit is no longer the once enviable capitol of the automotive industry. Instead it has become a rusted out junk yard, where its previous signs of prosperity have withered and become now barren land.
What is to become of the citizens who kept voting these charlatans masquerading as responsible elected officials? Did they unknowingly succumb to a culture of corruption and deceit which wove its web throughout the neighborhoods? Did they accept the leaders who traded in favors to keep the wool pulled over the heads of residents?
For decades, at every chance, the political poverty pimps would go to barber shops and beauty salons and even in churches passing out promises and placing blame at the feet of "The Man." "The Man; i.e. code word for 'White Man' is doing this to you, and that is why you are suffering." This same inane and ridiculous refrain has been passed down for several generations, until it has become just a tragic utterance, now blessedly falling on deaf ears.
The truth is that these large and small urban financial nightmares have been largely run by minority leaders for decades. There is no "Man" in sight. These black leaders have wheeled and dealt away financial responsibility by paying ever larger union retirement pensions, salaries and bonuses. With each election they falsely promised better times were just around the corner. In reality they were delivering the citizens into an awaiting monetary wasteland.
What is the lesson that residents as well as leaders of Detroit and other urban financial failures to take away from this?
Financial crisis is never solved by borrowing more and taxing even more. Citizens have the power to tell their leaders to "Just say no!" Say no to the unions that want more salaries and benefits. Say no to the workers that insist on larger and larger retirement packages for doing less and less. Say no to borrowing against the future when bankruptcy is the only future that is guaranteed.
These liberals and democrat leaders in the city of Detroit have to understand what Obama does not seem to understand or accept: 'There is no magic money tree that you can shake."
Governor Rick Snyder's emergency manager for Detroit has to move swiftly. If there is truly no money to pay workers, then lay them off or reduce their hours. If Detroit cannot pay its bills then those services have to be reduced and, or privatized. Even city assets should not be left immune to reducing the monumental deficit.
Detroit has to swallow this bitter but well deserved financial pill, and the emergency manager will deliver the medicinal remedy. Soon, Michigan's largest city will then become the sixth city in the state to meet that same fate. Hopefully for its residents, it will survive, because there is no bacon bailout in sight!
_______________
(Click – let me know what you think)
© Kevin Fobbs
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(See RenewAmerica's publishing standards.)
