Coming to a city near you, another taxpayer funded gift

[buzzbee]

This news out of San Francisco. A city thats broke in a state thats bankrupt:
http://abcnews.go.com/US/story?id=93510&page=1#.UKLt1WcZ7CY
But hey,  it's just the taxpayers we'll have to ask for more. Seems to be no end to entitlements does there?And the the city-state goes broke,perhaps they are too big to fail and the rest of us can pay for the boondoggles!!!
 And people wonder why responsible states may want to secede from the corrupt organization of the United States.

[Vance G]

I don't think there is much doubt that we will get to bail out the blues states pension liability and debt as they, in turn, fail to meet those obligations and they have to continue feeding their base.   It is open season on anyone who achieves or has managed to live frugally and save some money.   I own my house but property taxes and killer carbon tax driven utilities costs are going to be a major challenge for the genteel poor like my wife and I.   I guess we just get to live in interesting times.   

[BlueBee]

Beeks aren’t going to like this one bit, heck I don’t like it, but the City of Detroit is on the verge of bankruptcy and will probably be the first major city to go bankrupt.

http://detroit.cbslocal.com/2012/11/13/expert-detroit-could-run-out-of-cash-in-december/

We had a proposal on the ballot that would have given our Governor (a Republican) more power to take over dysfunctional cities and break contracts, if needed, to balance budgets but unfortunately that proposal failed (barely).  BTW…I voted to give our Gov the power he wanted to fix the mess.   Unfortunately the proposal failed so now the options are limited.

Detroit has been dysfunctional for over 40 years.  Unfortunately ‘we the people’ just don’t have a good system for fixing problems before the crisis stage.  Heck when General Motors is 9th of the list of top city employers in Detroit, you know something is really wrong.

[AllenF]

 

[Vance G]

A friend of mines father  in an affluent neighborhood of autoworkers had a greenhouse wing of his house that cost as much to heat as I made at the time.  That whole neighborhood is now  crumbling foundations and grass, he sent me a picture.   A fine result of  single party rule and a parasitic union that devoured its host.

[BlueBee]

It is sad what happened to Detroit.  As you say, there are a lot of old mansions down there from the days when the city was flooded with money.  For a wake up call on how low your house values could  drop, check out realtor.com sometime and see what you can buy for 35K or less.  Select Detroit, 35K, and houses with more than 2000 sq feet.  It is utterly shocking.  Most of y’all probably know it costs at least $90 per square foot to build new.  So these old Detroit mansions with 2000+ square foot would run at least $180K new in any normal part of the country.  They're selling for pennies on the dollar.  Some of the old wood work and moldings’ can’t be replicated for any reasonable amount of money.  Instead of rebuilding a city below sea level, Bush should have just made people move to Detroit; there are a ton of nice old houses.  The only problem is crime!!!!

Detroit’s wows go back the riots, or so I’m told.  There was a massive white flight out of the city following the Riots and the money went with them.  That was followed by decades of Detroit politicians that exemplified pure arrogance.  A good example why we need term limits on all politicians!