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December 05, 2013

It was easy to see this coming

"Bailouts for Cities? Advocates for cash-strapped municipalities want Washington to clean up their mess."

Just say no.


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I came to the Detroit Metro area to teach public budgeting in the fall of 2000. With so many students from the area I immediately began studying the Detroit budget [which was difficult as it is/was incredibly weirdly put together, to the extent that you can actually get access] and told my students then that, in the absence of major changes Detroit would be bankrupt within 5 years.

No one much believed me. As the years have gone by it's becoming more and more obvious to that now my student do believe me. People are not willing to see the truth until they're forced to. Unfortunately, at that point a great many people will get hurt.

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