$300 Million in Detroit Aid, but No Bailout

[finster]

Call it what you will but every little bit should help at this point. Can't hurt.

[Danny]

That 300 mills is indeed a major urban bailout for Detroit. Abandon buildings will be torn down, more police, fire, EMS force will responding in the ghetto hoods. This bailout is not for fixing Detroit's city government but is meant to clean the mess we make.

[Mikeg]

Call it what you will but every little bit should help at this point. Can't hurt.

I call it "the federal government going another $140 million deeper in debt". Don't forget, the feds are borrowing 40% of everything they spend. This particular federal spending is the moral equivalent of a "drunken sailor" handing over a case of stolen booze to someone who is just starting the 12-step program.

But it all gets rationalized away with a breezy "every little bit helps" and a "can't hurt".

As a nation, we are doomed.

[Cliffy]

I call it "the federal government going another $140 million deeper in debt". Don't forget, the feds are borrowing 40% of everything they spend. This particular federal spending is the moral equivalent of a "drunken sailor" handing over a case of stolen booze to someone who is just starting the 12-step program.

But it all gets rationalized away with a breezy "every little bit helps" and a "can't hurt".

As a nation, we are doomed.

Yet, nobody complains about the trillions in Iraq, Afghanistan, Israel. That's "ok" [[Waves flag). Fuck Americans. Fuck Detroit.

[Goose]

Yet, nobody complains about the trillions in Iraq, Afghanistan, Israel. That's "ok" [[Waves flag). Fuck Americans. Fuck Detroit.

huh? libertarians [[Ron Paul, etc.) have been complaining for decades... not that Republicans or Democrats care to listen....

[Goose]

It’s also important to note that deficits are one-year figures, and should not be confused with the national debt, which is a sum of the cumulative effect of yearly deficits. It’s nearly certain that the debt will more than double during the Obama presidency.

[rb336]

I call it "the federal government going another $140 million deeper in debt". Don't forget, the feds are borrowing 40% of everything they spend. This particular federal spending is the moral equivalent of a "drunken sailor" handing over a case of stolen booze to someone who is just starting the 12-step program.

But it all gets rationalized away with a breezy "every little bit helps" and a "can't hurt".

As a nation, we are doomed.

Don't forget, the deficit has fallen under each Obama budget. the last time hat happened, who was the prez? oh yea, Clinton. NO republican in my lifetime has managed to do that

[Goose]

Don't forget, the deficit has fallen under each Obama budget. the last time hat happened, who was the prez? oh yea, Clinton. NO republican in my lifetime has managed to do that

thats like saying my drinking has been reduced each year for the past 5 years, not mentioning that my drinking went from 5 beers a night to 20 just prior to that

Due to the recession, the deficit as a percentage of GDP spiked in 2009 to a level not seen since the mid-1940s. So it had further to fall than usual.
When Obama took office in 2009, he inherited a projected deficit of $1.2 trillion. He added another $200 billion in deficit spending to that. As a percentage of GDP, the deficit in fiscal year 2009 came to 10.1 percent. That’s by far the highest percentage over the last 60 years [[you have to go back to the World War II years between 1942 to 1945 to see higher figures). Over the last 60 years, deficits as a percentage of the GDP have averaged 2.4 percent. The deficit was 3.2 percent in 2008, the year before Obama took office; and it was 1.2 percent the year before that. In other words, it had a long way to drop from 2009.

[Cincinnati_Kid]

I call it "the federal government going another $140 million deeper in debt". Don't forget, the feds are borrowing 40% of everything they spend. This particular federal spending is the moral equivalent of a "drunken sailor" handing over a case of stolen booze to someone who is just starting the 12-step program.

But it all gets rationalized away with a breezy "every little bit helps" and a "can't hurt".

As a nation, we are doomed.

I agree. At some point everything is going to crash, the only question is when.