This morning newspaper included an informative story about the financial challenges tht Hamtramck faces. It will interesting to see how Governor Snyder deals with this issue since quite a few Michigan munipalities are close to bankruptcy.
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This morning newspaper included an informative story about the financial challenges tht Hamtramck faces. It will interesting to see how Governor Snyder deals with this issue since quite a few Michigan munipalities are close to bankruptcy.
"It will interesting to see how Governor Snyder deals with this issue since quite a few Michigan munipalities are close to bankruptcy."
Which ones?
While there's a lot of talk of "bankrupt" municipalities, the truth is that very few, if any, Michigan communities are bankrupt. Most of them could cut services or raise taxes to balance their budgets. They may not want to do that but it doesn't mean they couldn't. I'm sure that this is true of H-Town too. They want to go the bankruptcy route to void their contract obligations. But those could be met through a combination of service cuts and tax increases. No one would like it but they aren't bankrupt in the way that a business goes bankrupt.
From what I've recently learned, it's the intention of the newly elected Republicans to make it easier for the states to declare bankruptcy. They hope to renegotiate the contracts with the state employees unions, reduce their income and capacity to donate money to the Democrats.
http://www.msnbc.msn.com/id/3036677/#40823650
That is certainly part of their plans. The republicrats are visionaries and the demicans are deluded.Quote:
Originally Posted by eno