Detroit is broke Created by rreker on 7/18/2013 5:31:39 PM
Detroit is broke.
In fact they're more than broke. They owe about $15 BILLION dollars... over spending by about $100 MILLION each year since 2008. How does a city get this far into trouble? It's because they elected people like Kwame Kilpatrick into office TWICE while he was robbing the city right in front of their faces.
Maybe we should of used Kwame as an example of why it's a bad idea to re-elect someone with poor fiscal policies. On the other hand, even though fiscal policies have nothing to do with race, it would of been made into a race issue. And it continues to be made into a race issue even today.
Either way... how does a city stay operational? Simple -- they stopped paying bills and deferred payments out of other funds like city pensions. This newscast does the best at explaining what's happening to the neighbors to our north.
Perhaps we can gain a red state up north? Will they abandon poor fiscal policies? I'm guessing not. But a person can hope.