Jason Howerton:
In October of 2012, President Barack Obama triumphantly declared he “refused to throw in the town” and “let Detroit go bankrupt.”
On July 18, 2013, Detroit went bankrupt.
“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,” Obama said in his weekly address.
[youtube]http://youtu.be/tTJP1APPxJk[/youtube]To be fair, it seems that Obama was touting Detroit of an example of how his administration “saved” the automobile industry. Clearly though, this administration’s big government policies were still not enough to save the city from economic ruin.
Biden also made a similar argument during a vice presidential debate with Paul Ryan in 2012:
[youtube]http://youtu.be/62KRYbvgCQE[/youtube]Detroit on Thursday became the largest city in U.S. history to file for bankruptcy, as the state-appointed emergency manager filed for Chapter 9 protection.
I’m waiting for the Obongo Bunch to backpedal saying that “Detroit” was a generalization for the Auto Industry, and not specifically the City of Detroit. I’m also waiting for the announcement that $Billions are going to CoD to “bail them out”. I like the idea that some folks have had, which is to liquidate the assets of the City in order to pay their bills.
Ummm, let me see; let me count the
wayslies:Your insurance premiums will go down
We will be more respected all across the world
Al Qaeda is on the run
Feel free to add to the list.
@retire05:
Anything that comes out of Obama’s mouth….
@Pete:
I was not friends with that terrorist, Mr. Ayers.
OK, but do I believe it?
The deep blue Dems have finally fully transformed a part of America into Obama’s vision.
What was once a(mostly white) bastion of middle class life style is now a ghost-town of color.
How many more US cities have to go down that route before we wake up and repudiate the Left’s ”dream,” of a new America?
36 cities and towns insolvent since 2010.
What was Obama up to in 2010?
He was calling summer 2010 our nation’s “Recovery Summer.”
Some judge has nixed the filing by Detriot.
Apparently it is illegal to not pay city pensioners EVEN IF your city is broke!
http://www.usatoday.com/story/news/nation/2013/07/19/detroit-bankruptcy-unconstitutional/2569481/
@Nan G:
This is another reason that you cannot ever trust a democrat. According to this judge the entire state of Michigan is on the hook to pay for 50 years of democrat corruption and binge spending. There is no money to pay Detroit’s bills. Contrary to leftist ideology, money does not grow on trees. Bankruptcy is the only way out of the mess the democrats made, and this judge is throwing a political tantrum like a kid who doesn’t want to take her medicine. Shameful. Stupid.
It seems it didn’t matter to the judge that Detroit is flat busted broke and so deep in debt it will never climb out. The opinion of the President is what matters to her, not the law.
“It’s cheating, sir, and it’s cheating good people who work,” the judge told assistant Attorney General Brian Devlin. “It’s also not honoring the (United States) president, who took (Detroit’s auto companies) out of bankruptcy.”
Aquilina said she would make sure President Obama got a copy of her order.
“I know he’s watching this,” she said, predicting the president ultimately will have to take action to make sure existing pension commitments are honored.”
Maybe she thinks this will land her a federal bench appointment.