Post by jobs1stb4polarbear on Jul 19, 2013 0:48:56 GMT -5
BROKE – After 50 Years of Democratic Rule Detroit Files For Bankruptcy
After 50 years of Democratic rule Detroit filed for bankruptcy today.
50 Years of Failure:
From January 1952 to Today–
Jerome Cavanagh (D)
Roman Gribbs (D)
Coleman Young (D)
Dennis Archer (D)
Kwame Kilpatrick (D – Crook)
Kenneth Cockrel, Jr. (D)
Dave Bing (D)
Take a bow, Democrats.
USA Today reported:
The city of Detroit filed for Chapter 9 bankruptcy protection in federal court Thursday, laying the groundwork for a historic effort to bail out a city that is sinking under billions of dollars in debt and decades of mismanagement, population flight and loss of tax revenue.
The bankruptcy filing makes Detroit the largest city in U.S. history to do so.
