07-26-2013, 08:39 AM
“We refused to throw in the towel and do nothing,” Obama said. “We refused to let Detroit go bankrupt, I bet on American workers, and American ingenuity and three years later that bet is paying off in a big way.”
Read More, Short article and video:
http://washingtonexaminer.com/flashback-...le/2533249
Mr Obama bragged his head off about saving Detroit. During his campaign he cited what was represented as undisputable fact that the economy of Detroit was vibrant once again. Osama was dead, Al Qaeda was on the run and American troops are coming home. Really? Detroit is 18 Billion dollars in debt, to 100 thousand creditors. The unemployment rate for those above the age of 16 in that city is 50%. Thousands of buildings and ramshackle homes lay abandoned.
The question therefore begs to be asked. If he was willing to fully employ his economic theories in Detroit, (and of course he was) didn't Detroit's ear deafening crash speak volumes as to the validity of those theories? And secondly, and more profoundly, if this is the case in Detroit would not the same ills that befell them necessarily exact the same price for the rest of the country? Fudging unemployment numbers and other economic data by factoring in this Keynesian blather doesn't change the reality of our situation.
The day is coming when just anybody won't be able to afford the usual jaunt down to McDonald's through the drive-thru for food. Hardly anybody has the first darn clue how they would eat if the government did not hand it to them every day. And, unlike the situation in Detroit, just packing up and moving off to another city where relatives say times are better, won't be an option when the federal treasury is bare.
Is it possible to bleed this nation dry in 8 years? It's starting to look that way to me.
Read More, Short article and video:
http://washingtonexaminer.com/flashback-...le/2533249
Mr Obama bragged his head off about saving Detroit. During his campaign he cited what was represented as undisputable fact that the economy of Detroit was vibrant once again. Osama was dead, Al Qaeda was on the run and American troops are coming home. Really? Detroit is 18 Billion dollars in debt, to 100 thousand creditors. The unemployment rate for those above the age of 16 in that city is 50%. Thousands of buildings and ramshackle homes lay abandoned.
The question therefore begs to be asked. If he was willing to fully employ his economic theories in Detroit, (and of course he was) didn't Detroit's ear deafening crash speak volumes as to the validity of those theories? And secondly, and more profoundly, if this is the case in Detroit would not the same ills that befell them necessarily exact the same price for the rest of the country? Fudging unemployment numbers and other economic data by factoring in this Keynesian blather doesn't change the reality of our situation.
The day is coming when just anybody won't be able to afford the usual jaunt down to McDonald's through the drive-thru for food. Hardly anybody has the first darn clue how they would eat if the government did not hand it to them every day. And, unlike the situation in Detroit, just packing up and moving off to another city where relatives say times are better, won't be an option when the federal treasury is bare.
Is it possible to bleed this nation dry in 8 years? It's starting to look that way to me.