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Posts Tagged ‘Detroit’

ECONOMIC ALERT: Federal government twice as bankrupt as Detroit

August 9, 2013 Comments off

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Detroit

Detroit declared bankruptcy a few days ago.

I’ve written for years about how Detroit should serve as a stark warning to Americans who believe in liberal social policies, like highly progressive taxes and expensive social safety nets.

These socialist programs don’t cure income inequality. They merely destroy wealth by reducing incentives for building businesses and encouraging dependency. That’s why societies with lots of government spending typically have few civil institutions and a small middle class.

Here’s the message our politicians on both sides of the aisle seem to miss: Fifty years ago, Detroit was one of the largest and wealthiest cities in the world. Nearly 2 million people lived there, and it enjoyed the highest per-capita income in the United States.

Then, in 1960, everything changed.

Liberal Democrats came to power (and have held power since). Their ideas about using the government to build Read more…

Categories: GOVERNMENT Tags: , ,

Detroit Schools’ Cuts Plan Approved

February 23, 2011 Comments off

By MATTHEW DOLAN

The state of Michigan approved a plan for Detroit to close about half of its public schools and increase the average size of high-school classrooms to 60 students over the next four years to eliminate a $327 million deficit.

The plan was submitted in January by Robert Bobb, Detroit Public Schools’ emergency financial manager, as a last-ditch scenario if the district couldn’t find new revenue sources, which it hasn’t so far. Final approval came after Mike Flanagan, the state superintendent of public instruction, cleared Mr. Bobb’s initial plan with some new requirements, including that the district not file for bankruptcy protection during Mr. Bobb’s remaining months in office.

The state approved the plan in a Feb. 8 letter, which the Detroit public-schools district released Monday.

Mr. Bobb said the deep cuts were Read more…