The Detroit City Council wants a $10 billion federal bail out for the city, to pay for public works projects to create jobs, such as a mass transit system, and to deal with high foreclosure rates.
The council passed the resolution today 7-1, with Councilwoman Sheila Cockrel as the only opposition. It urges Mayor Kenneth Cockrel and Council President Monica Conyers to push for the funds by meeting with Gov. Jennifer Granholm, congressional officials, President George W. Bush’s administration and President-elect Barack Obama’s transition team.
Wow. The state of California, the city of Detroit, the auto industry, DHL. So much bad news. When will it end?
It won’t. A nation steeped in self-reliance and thrift has been wholly transformed into social democrats firm in their delusion that everybody can live off everybody else.
Actually, it will end: when the government’s debt is no longer marketable, when the black market is larger than the “legal” market in order to escape confiscatory taxation, and when the currency is more valuable as tinder. Urban areas like Detroit will end up in ruin, as families flee crime and corrupt government to start new lives in rural areas.
This bailout scheme is getting out of control. Everybody from tax payers who have too much credit card debt to cities are all asking for a handout.
Bailouts put us on a slippery slope: once we get going, where do we stop?
_ _ _ _ _ _ _ _ _ _ _
I am changing my name to Chrysler
I am going down to Washington D.C.
I will tell some power broker
What they did for Iacocca
Will be perfectly acceptable to me
I am changing my name to Chrysler
I am headed for that great receiving line
So when they hand a million grand out
I’ll be standing with my hand out
Yes sir I’ll get mine
—Tom Paxton (1980)
http://www.arlo.net/resources/lyrics/chrysler.shtml
#1 writes:
[blockquote] Wow. The state of California, the city of Detroit, the auto industry, DHL. So much bad news. When will it end? [/blockquote]
Well, ECUSA has been morally and spiritually bankrupt for years and – as a result – has been losing members and dollars – I’m sure KJS is trying to figure out how to get a handout before it does end.
And I can’t even get a couple hundred bucks from FEMA to help cover hurricane related expenses!
Two constants of human nature are 1 – that everyone wants to live better than his neighbor and 2 – that he wants his neighbor to pay for it. That our current administration is feeding the second urge is detestable. That the incoming administration will only feed it more is distressing.