It’s too bad that those responsible for forty years of graft and corruption aren’t being forced to enjoy the consequences of their decisions. Those consequences fall on others, as they usually do.
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The inevitable consequences of political pandering, excessive union influence, overspending, fraud, deceit – you name it – are now coming home to roost in Detroit. The bills that have been put off for years are now due and payable. There will be no winners.
Why should anyone be surprised that Orr found fraud hatched during Kilpatrick’s regime?
It warms the heart to see the Gray Lady shrink from being “black and white and read all over” to “black and blue and red all over.”
It’s so predictable. There’s a crisis. The Obama administration says it won’t provide a bailout, all the while knowing that the bailout is already in place.
Aside from his arrogance and audacity, our “investment manager-in-chief” is now requiring Americans to fund the government’s debts directly from their paychecks.
Highland Park is just one more example of over-generous pension plans, banks ignoring weak financials, and city council members who are bad at math, pushing Detroit’s city-within-a-city into bankruptcy.
I feel for those citizens: they can’t afford to stay, and they can’t afford to move. All they can do is suffer, hunker down, and pay.
The professors have done a good job clearing up any misconception that the US will be able to avoid using third-world tools to rein in its excessive debt.
Endless fiddling and finagling are all that the Illinois legislators can manage. It’s like using a squirt gun to put out a forest fire.