Obama Flashback: ‘We Refused to Let Detroit Go Bankrupt’

[Wehrwolfen]

By Jason Howerton
Jul. 18, 2013

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In October of 2012, President Barack Obama triumphantly declared he “refused to throw in the towel” 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.

[Excerpt]

Read more:
Obama Flashback: ‘We Refused to Let Detroit Go Bankrupt’ | Video | TheBlaze.com

 

[ttwtt78640]

By Jason Howerton
Jul. 18, 2013

​

In October of 2012, President Barack Obama triumphantly declared he “refused to throw in the towel” 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.

[Excerpt]

Read more:
Obama Flashback: ‘We Refused to Let Detroit Go Bankrupt’ | Video | TheBlaze.com

If Obama had the cash available he would bail out every blue city that asked for help but, as Clint Eastwood said, a man has got to know his limitations.

All Joe Biden can say for sure is that "we don't know at this point" when asked about a Detroit bailout.

Biden: Feds Might Bail Out Detroit - I4U News

 

[Moot]

Without a tax paying population base or even a population for that matter, there is no future for Detroit. Thats what happens when almost the entire workforce and surrounding small businesses depends on one company or industry. I don't think the federal government should spend a dime trying to rebuild Detroit, but they should probably save the pension funds of the retired workers who earned it. That would be the humane thing to do.