If they can't bankrupt in federal court it won't even do that.
HyogaRott Send a noteboard - 21/07/2013 06:42:43 AM
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Unfortunately, I don't know if their low revenue issues will allow for low corporate and industrial taxes that would be required to bring new jobs to Detroit. Bankruptcy will wipe out a lot of the debt but won't fix the revenue and spending issues they have. This is a temporary solution that will allow them to keep the lights on but longer term solutions are needed to bring employment to that area.
Unfortunately, I don't know if their low revenue issues will allow for low corporate and industrial taxes that would be required to bring new jobs to Detroit. Bankruptcy will wipe out a lot of the debt but won't fix the revenue and spending issues they have. This is a temporary solution that will allow them to keep the lights on but longer term solutions are needed to bring employment to that area.
State bankruptcy won't allow for the reassessment of the union contracts and pensions that are major causes of the bankruptcy.
Case study of liberal policy - Detroit files for bankruptcy - 
- 21/07/2013 05:24:55 AM
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- 21/07/2013 05:24:55 AM
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I hope the best for Detroit
- 21/07/2013 06:21:36 AM
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If they can't bankrupt in federal court it won't even do that.
- 21/07/2013 06:42:43 AM
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In other news Ed Schultz may the dumbest man on TV
- 22/07/2013 01:55:28 AM
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Seriously?
- 22/07/2013 05:39:38 PM
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so th e massive debt from over generous and under funded public sector union contracks did cause it? *NM*
- 23/07/2013 12:57:58 AM
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