John Tillman Disposable income (money left after taxes) dropped 4% adjusted for inflation; biggest drop since records began in '59 http://illin.is/14a04MZ
Michigan Governor declares financial emergency and takes control of Detroit's budgetary mismanagement
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.
Comment
Comment by Brian Keith Prince on March 3, 2013 at 6:06am Disposable income (money left after taxes) dropped 4% adjusted for inflation; biggest drop since records began in '59 http://illin.is/14a04MZ
REPORT: Obama's golf weekend with Tiger cost as much as 341 furloughed federal workers http://www.weeklystandard.com/blogs/senator-obamas-golf-weekend-tiger-cost-much-341-federal-workers-furloughed_704915.html … @barackobama #p2 #tcot #tgdn
Checking out "Governor Declares Financial Emergency for
Comment by Martha Vincent on March 2, 2013 at 6:40pm All of these city managers and employees should be sent to prison for deficit spending and expecting the rest of the country to bail them. Nobody owes Detroit anything. They did this to themselves, big union corruption, elected officials corruption, pay-offs to everyone. Well, the chickens have come home to roost and Detroit can just suck it up and take care of the situation themselves.
Comment by Brian Keith Prince on March 2, 2013 at 4:56pm By the Way Judy, I love you too! John Tillman's Policy Illinois Policy Institute is Worthy of checking out so the DEMORATS don't completely destroy Illinois as they have already done in Michigan (I live in the Grand Rapids area so I know). Where is John Galt?
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Comment by Clinnon Alexander on March 2, 2013 at 3:26pm Comment by Judy Lyford on March 2, 2013 at 3:23pm Pretty soon DC will cause our country to look like Detroit. It isn't "Will it happen?" It's "When will it happen?" By the way, I'm glad to see the Prince is back with us.
Comment by Barry Gabrielson on March 2, 2013 at 10:00am Look at every city that elected regressive politicians who are bribed by promising future city money they dont have. They go to unions leaders and tell them if they give him/her this power, free pensions for everyone union member and government worker in exchange for votes. So when the city is bankrupted, raise taxes on the wealthy, cry that they dont pay their fair share. Here in America, bribes are moral behavior, lying is a good thing, stealing from one generation to pay for another is moral. Immoral people give power to immoral people, plain and simple. You give Satan the power to destroy, Satan destroys. The culture accepts and tolerates immoral people elected to destroy our schools, cities, counties, States and Federal Government. We are overrun by ignorant and immoral people who gain bribes for votes, then complain that the taxpayer better work harder to pay for their own retirement. Do you believe this is right, free pensions for union and government workers on the backs of all taxpayers? The parasites feeding off the host. When is the host going to remove the parasites? Answer is reelect the parasites and see what happens. Expecting a different outcome is insane. Stupid is a Stupid votes.
Comment by Brian Keith Prince on March 2, 2013 at 6:47am John Ransom is echoing our thoughts and comments also:
It is as I have been personally saying for years, a MIRROR of what is reflected NATIONWIDE. Washington D.C. is becoming Detroit. America will become the hood - unless these progressives are stopped. When the music stops, the BRIGHT LIGHTS come on at 3:00 in the morning, the bar is now closed, no more free drinks, and there is no more chairs to sit in, the MUSIC has stopped...and there is NO MORE MONEY to PAY THE BAND...
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Comment by jalina susan stutte on March 2, 2013 at 1:46am Detriot citizens sold thier souls to the Liberals Black and white, for a free phone, sec. 8, food stamps, welfare check, and leaving all family values in the trash by having more baby daddies and look what it has got them. Did they learn a lesson? Have they seen the error of thier ways? Probably not, sadly most will probably go to other cities and bring thier entitlement mentalilty with them. Most legit business owners have relocated and with them jobs. I say use this as a example and better yourself, work, get back in the church Detriot. Because God is watching.
Comment by Doug Nicholson on March 2, 2013 at 12:31am This is a harbinger of things to come for the entire country unless we can replace the dolts in D.C. with sane patriots!
Comment by Dennis L. Kolb Sr. on March 1, 2013 at 11:17pm © 2013 Created by Judson Phillips.
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