by Jane Richey | Aug 5, 2013 | Fiscal Responsibility, Politics
In the wake of America’s manufacturing decline, Detroit enacted policies that drove out businesses and residents. Rather than reduce the size of government as its population shrank, the city instead sought higher levels of government spending. City leaders acquiesced...
by Jane Richey | Jul 19, 2013 | Fiscal Responsibility
The city of Detroit filed for Chapter 9 bankruptcy on Thursday afternoon. Detroit’s emergency manager, Kevyn Orr, filed the request to begin what will be the biggest municipal bankruptcy in United States history. Chapter 9 status would shield the municipality...
by Jane Richey | Jul 19, 2013 | Fiscal Responsibility
The City of Detroit filed for bankruptcy yesterday afternoon. It owes as much as $20 billion and there is no conceivable way that debt will ever be paid. The city offered its debtors 10 cents on the dollar but the debtors refused. A good deal of the blame –...
