Obama, Mich. in talks to free up $100M for Detroit

[4-2-7]

Isn't this nice, the taxpayers get to bailout Detroit's pension program. So unsustainable Union pensions, Democratic theft and poor policies are now the responsibility of the tax payer.


DETROIT — The Obama administration and Michigan officials are in discussions on a deal that would free up an additional $100 million to soften the blow to Detroit pensioners facing cuts in Detroit's bankruptcy negotiations, two people familiar with the talks told the Free Press.

The two sources, who spoke late Tuesday on condition of anonymity because they weren't authorized to disclose the information, confirmed talks about the federal government supporting a state move to funnel $100 million in federal money to Detroit for blight remediation.
http://www.usatoday.com/story/news/p...light/7768677/

[Dondilion]

Better to spend the money on Detroit than Ukraine.

[finnbow]

Yeh, we should only bail out Wall Street bankers and other "job creators." Private citizens reduced to poverty through the actions of said bankers should hone their dumpster diving skills.

[4-2-7]

Originally Posted by Dondilion

Better to spend the money on Detroit than Ukraine.

I agree on that on but it will not happen at this point. We stuck our finger in the pie now we have to eat it.

[4-2-7]

Originally Posted by finnbow

Yeh, we should only bail out Wall Street bankers and other "job creators." Private citizens reduced to poverty through the actions of said bankers should hone their dumpster diving skills.

Not at all.

I keep telling people do not count on a government pension. For one thing it will be the first thing the government reaches for in time of need. Don't count on you 401k either as it's not in your control.

However if this goes though, other cities and states will look at this as a fund that they will siphon more than they are doing now.(Fed Protected?) As with the banks the working tax payer will reach an outrage to continue any bailouts of pensions.

[Pio1980]

The Wall street casino isn't a good bet either on a personal basis.

[MikeG22]

What your saying then is not, "not at all"...

You feel its fine to screw over pension holders who have worked their lives for that retirement benefit but its perfectly OK to bail out wall street bankers who should be in jail for the crimes they have committed. 100M is a drop in the bucket compared to the wall street bailout.

[Pio1980]

Originally Posted by MikeG22

What your saying then is not, "not at all"...

You feel its fine to screw over pension holders who have worked their lives for that retirement benefit but its perfectly OK to bail out wall street bankers who should be in jail for the crimes they have committed. 100M is a drop in the bucket compared to the wall street bailout.

Where's that Ayn Rand/ Henny-Penny spirit that made this country great? Just use 'em up and toss them aside, IGMFU (I've got mine, fuck you).

[finnbow]

Originally Posted by MikeG22

What your saying then is not, "not at all"...

You feel its fine to screw over pension holders who have worked their lives for that retirement benefit but its perfectly OK to bail out wall street bankers who should be in jail for the crimes they have committed. 100M is a drop in the bucket compared to the wall street bailout.

Furthermore, it comes from a fund already budgeted for this purpose. From the article cited in the OP:

The federal money would come from Hardest Hit Fund, a $7.6 billion Obama administration effort established in 2010 to help the 18 states most hurt by the housing downturn.

[4-2-7]

Originally Posted by MikeG22

What your saying then is not, "not at all"...

You feel its fine to screw over pension holders who have worked their lives for that retirement benefit but its perfectly OK to bail out wall street bankers who should be in jail for the crimes they have committed. 100M is a drop in the bucket compared to the wall street bailout.

Your confused as to what I was saying not at all to. that was highlighted in finn's statement.


But as with any bailout you set a president that should not be under taken. Let alone by tax payers who did nothing to deserve it. What I am saying is if we go down this road it WILL grow to the point we can do it any more.