True.. The unfunded entitlements are whats really at stake here and personally after its all said and done I don't see Detroit bouncing back.. They just as well start sending in some wrecking crews and start leveling a good portion of the abandoned buildings.. It breeds nothing but more crime..<quoted text>
You are correct Detroit is bankrupt and the federal government cannot and will not do anything about it. Chicago will follow in a few years I am sad to say. There unfunded pension plan will reach over $100 Billion in a few years. They have not gotten pay increases for the past 2 and 3 years (depends on government agency’s) If the Federal Government were to bail out all the cities and states it would take Trillions of dollars. This has nothing to do with Red or Blue States. It has to do with Entitlements.
Detroit is the test case and template.