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Report: Yeah, Detroit Might Be Forced To Declare Bankruptcy

CoachKr Wrote: Feb 20, 2013 7:23 AM
What do Detroit, Birmingham, Memphis, Chicago and other urban areas that are going broke all have in common? Discuss among yourselves.
Lance8762 Wrote: Feb 20, 2013 7:39 AM
Victims of da white devil!
Lance8762 Wrote: Feb 20, 2013 7:38 AM
Victims of da white devil!
Corndog2 Wrote: Feb 20, 2013 7:28 AM
A heavy influx of the Amish.
Bill1895 Wrote: Feb 20, 2013 8:05 AM
Hey it seems like the Amish are about the only white group that the liberals have not blamed.

What happens when a city government tries to tax, spend, and borrow its way to prosperity? Hint: it goes broke:

A state-appointed review team has determined Detroit is in a financial emergency, paving the way for Republican Gov. Rick Snyder to appoint an emergency manager who would need to come up with a new plan to get the city out of its fiscal crisis.

The team released its findings Tuesday, saying in a report to Snyder that "no satisfactory plan exists to resolve a serious financial problem."

The review team pointed to the city's ongoing cash crisis, which have threatened...