Friday, September 27, 2013

$300 million in Detroit Aid, but NO BAILOUT

1. http://www.nytimes.com/2013/09/27/us/300-million-in-detroit-aid-but-no-bailout.html?ref=todayspaper&_r=0

2. Category of Problem: Money/Finance

3. Level of Problem: City/State/National

4. This article concerns: No bailout for the city of Detroit, MI.

5. Importance/affect on families and individuals: This will highly affect families and individuals and could determine or alter their fate and residency in the city of Detroit. The billions of dollars in debt that the city holds is driving out any chance of work and transportation opportunity for it's residents.

6. My input: There is a crisis in our midst and our government has it's hands tied because of current national debt. The government doesn't have the money to fund even it's own programs and is being held by Detroit up for comparison to the New York City financial crisis in 1975 when NYC received  a multi-billion dollar loan package from the Government, that it later repaid with fees. There is an expectation that the Government should be doing the same for the city of Detroit at time like this in their history; I however, do not agree with that. This issue brings to light some very real fundamental differences in ideas of the two parties (Rep./Dem.) over the size and role of the government. Granted, the city of Detroit does need to clear and redevelop blighted properties, improve transportation systems, and overhaul city management systems wrecked by years of poor administration and inadequate resources BUT how did the burden fall on the taxpayers from other states and the Federal Government? I feel if relief is only thought to come from the government then we aren't looking hard enough for some other solutions. I feel that there are most likely key players/contributors to the downfall of the city of Detroit and that those individuals with their millions and billions of dollars, should be held accountable. I know for a fact there are people who got wealthy off the downfall of Detroit, and it is these people that the city should be looking for justice from, not our Government. I feel that Mr. Obama has done all that he can for Detroit through available money and tax credits and through partnerships with local businesses and foundations. I do think the $300 million in Federal Aid is a good decision for now, and by not receiving an enormous about of Aid all at once, maybe the city will choose to spend more purposefully in the future. I sympathize with residents who feel that there is a quiet desperation of feeling that no one cares, and bewilderment about why isn't anybody helping; but history tends to repeat itself, and honestly if the city I lived in dried up and all opportunity was lost for a future there, I would move.

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