$10B Detroit Bailout? Excuse the F Outta ME?!

From Local 4 / Clickondetroit.com:

So the city of Detroit is falling off the financial cliff. Well, that's to be expected when you can hear the sucking sound from 10 miles away. When the major revenue streams for your city are all drying up (Ford, GM, Chrysler) and you are a leftist utopia-aspirant type city, replete with public trough gimmes and social welfare programs, you are in trouble.

So the city wants to hold their hands out to the taxpayer (read: You and Me). To the tune of $10,000,000,000. They can't keep their financial house in order, so the city would like to take money off of MY books and food off my children's plates and give it directly to city employees to put food on their childrens' plates?

[deleted] you, Detroit is all I have to day to that idea. My children are worth more to me than yours, so hands off my wallet.

spread the wealth around. Don't get me started.

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This nicely illustrates the crisis in which we all find ourselves. The choice is clear. Pull yourself up by your bootsraps, deleverage and start using capital vs. credit in the future, OR turn into a socialist nightmare, where everybody pays everybody else's bad debts at gunpoint and the whole thing goes to [deleted].

You may guess which I would prefer.

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By the way, in the event you got here looking for news about the major industry in Detroit, here's my commentary on bailing them out with my childrens' money:

[deleted] them, also. They need to fail and have a company take over their assets that isn't bound by contract to union members who are willing to send the company to the grave to get the last penny of benefits from their employers.

If GM, Ford, Chrysler, et. al. could have cut union benefits they would be in great shape to retool and sell the dinky little cars everyone wants now. Instead they allowed themselves to be bound to the UAW and now they are going to fail. The only question is how much of your tax money is going to go into the current and retired union worker's health care and wages before the Big Three are finally declared Oficially Dead and allowed to fail. I'm sure an Asian company not bound by stupid American union labor rules could use that equipment to realize very good capital gains. Even better, some American entrepreneur could buy it all and ship it to a right-to-work state (Texas comes to mind, San Antonio or Austin would be great! ) where workers don't have to be in a union, and then they could really churn and burn, and ALL the money goes to America, instead of the profits going to Japan or Korea or wherever.