Can Detroit Realistically Get Itself Out of Debt? | Detroit Bankruptcy

Detroit's bankruptcy petition paints a bleak picture for the Motor City. Host Rolfe Winkler talks to Jim Spiotto, a municipal bankruptcy attorney, for details. Photo: Getty Images.
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[@Paetaor]

They better work on the expenses first or there will never be revenue. Investing in a city that will be bk again 5-10 years down the road is stupid. First lesson from this is to not offer pensions until at least 65 and pro-rate them based on 40 years of service. Giving them out at 50-55 after 20-30 ain't gonna cut it.

[@StarcraftAlphaBeta]

The land sells for 1$ to 1000$ for GIANT plots of land. I was looking at homes that are listed for 1$ to 2000$. A small yard 75 feet x 200 feet sells for 100$!!!

[@johnlarner9136]

Seems to me that large companies coming into a city making a huge profit and then leaves when things get bad is kind of like a marriage where the father hauls ass and leaves the kids without child support when things are not good for him anymore.

[@albertbasman]

You will never have great investors come to Detroit with that rate of crime. Get rid of the people committing the crime, then Detoit will have a chance of recovering.

[@hookalakah]

Detroit is the most spectacular example of urban blight and it's the poster child for liberal governance. The loss of labor-intensive manufacturing, huge unfunded liabilities and white flight caused a collapse. Other big cities faced and overcame crises before undergoing revivals, but Detroit refused to change. Ed Rendell and Rudy Giuliani showed it was possible to govern places thought ungovernable, but Detroit's Democrat politicians were involved in criminal conspiracies rather than reform.

[@lllllillllllllillll]

so when they was $17B in debt, they was okay, $18B too high?

[@lcvd1]

Minority states always go first.

[@leoconchola3163]

It basically shows certain cities are not taking care of itself

[@vincentyeo88]

how to create jobs when all those smart entrepreneurs, skilled workers, and valuable capital had already left the city a long time ago?

[@MrSkidmark999]

QUIT HELP OTHER COUNTRY'S HERE FIRST

[@nidhalbenhassen2519]

1% 99% fact have nothing to do with a municipal bankruptcy

[@annachanel2174]

where is the robocop....????

[@ulmeulme]

Detroit needs Robocop

[@aquilesaguirre]

Detroit ya esta en una locura.tu hablas de cambiar la constitución.me podrías decir que cambiarías en la constitución para mejorar la economía de las ciudades

[@MrSkidmark999]

HELPING

[@crowbird213]

Quite a statement. Explain. Where did you learn you political economic theories?

[@UltimateOwnz]

cutting military budget would result into lose of jobs in many sectors, companies etc. that create firepower, air vehicles, sea vehicles etc... ever thought about that?

[@Jayf1981]

NEXT !

[@JayStimson]

When do the riots start ?

[@theshawnarm]

Paris Hilton has high intelligence??

[@Nate_dog01]

Hookalakah...I wish I could thumbs up your post

[@vernell26]

The democrats and the unions go and you can save Detroit

[@vindicari]

not to mention the hundreds of thousands of women and children bombed, and shot by American military would still be needing food and fuel, yes America is doing its bit to save resources. keep those weapons manufacturers in work. they could not diversify anyway.

[@MultiSupporter]

your mislead...,.

[@СамойловДмитрий-ъ1к]

Америке приходит конец!