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Current Events & Hot Topics Current Events & Hot Topics

Dems Favor Federal Bailout of Detroit, But Majority of Public Opposed

Posted by on Aug. 3, 2013 at 9:55 AM
  • 28 Replies


A new national poll from Quinnipiac University shows that a majority Democrats believe the federal government should bail out Detroit, but an even larger majority of Americans oppose such a move. Fifty-one percent of Democrats support Washington providing federal assistance to Detroit, which last month became the largest American city ever to seek bankruptcy protection. 

Not surprisingly, there is a strong partisan divide on the question of a federal bailout for the Motor City. Seventy-three percent of Republicans oppose a bailout, while only 18 percent support the idea. Independents are nearly of the same mind as Republicans on the issue: 68 percent oppose federal assistance for Detroit and 28 percent support it.


The poll also shows a significant racial divide on the issue. Whites overwhelmingly oppose a federal bailout (63 percent against vs. 26 percent in favor) while a solid majority of African-Americans support a bailout (57 percent favor vs. 36 percent against) as do a plurality of Hispanics (48 percent favor vs. 36 percent against).

A federal bailout for Detroit is very much a live issue politically. Michigan's congressional Democrats are vowing to find federal assistance for the city, while Republicans such as Kentucky Sen. Rand Paul have declared that Washington will bailout Detroit "over my dead body."

On March 14, Republican Gov. Rick Snyder appointed Kevyn Orr as emergency manager of the city. After a four-month review of its disastrous financial situation, which included painstaking negotiations with bondholders, creditors and union employees, Orr and Snyder concluded Chapter 9 bankruptcy was the only option to try to rescue the failing municipality.

Bankruptcy papers were filed by Snyder and Orr on July 18, just minutes before lawyers from the unions filed for an injunction to try to stop the bankruptcy from proceeding. At issue is whether a federal bankruptcy court has the jurisdiction to order a restructuring that will almost certainly include a significant reduction in future pension benefits for city workers, something that is currently prohibited by the state constitution.  


by on Aug. 3, 2013 at 9:55 AM
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Replies (1-10):
snookyfritz
by Platinum Member on Aug. 3, 2013 at 9:57 AM

I think a bailout is in order, with some heavy Federal oversight. 

yourspecialkid
by Platinum Member on Aug. 3, 2013 at 10:02 AM
1 mom liked this

 So we should borrow money from China to bailout a city that has been in decline for decades?

It might be an option if the money didn't have to be borrowed, didn't come from taxpayers that have NOTHING to do with Detroit and if the city was on the mend and seeing serious growth. 

Otherwise, no thanks.

 

katzmeow726
by Platinum Member on Aug. 3, 2013 at 10:09 AM

Sure, I'm up for a bailout...

As long as it is not bailing out companies, but the people who are suffering because the city went bankrupt.  

But seriously, I don't really feel like a bail out is the right thing to do.  Detroit has been in decline for a very long time.  At this point, I don't think a bail out will have any real effect on helping the city.   

candlegal
by Judy on Aug. 3, 2013 at 10:13 AM
2 moms liked this
Decades of dems running the city. Nothing will change if they get bailed out, they will just want another one in a decade or so.
Quoting yourspecialkid:

 So we should borrow money from China to bailout a city that has been in decline for decades?

It might be an option if the money didn't have to be borrowed, didn't come from taxpayers that have NOTHING to do with Detroit and if the city was on the mend and seeing serious growth. 

Otherwise, no thanks.

 

D-Town
by Silver Member on Aug. 3, 2013 at 10:14 AM
I think we should not bail out the city then hope we can come up with the extra money everyone will be shelling out when it goes belly up. If Detroit goes, everyone can expect to pay 10-20% more for everything they buy.
candlegal
by Judy on Aug. 3, 2013 at 10:14 AM

Federal oversight, lol.    The feds are trillions in debt, they don't have any business overseeing anything.

Quoting snookyfritz:

I think a bailout is in order, with some heavy Federal oversight. 


yourspecialkid
by Platinum Member on Aug. 3, 2013 at 10:37 AM

 

Quoting D-Town:

I think we should not bail out the city then hope we can come up with the extra money everyone will be shelling out when it goes belly up. If Detroit goes, everyone can expect to pay 10-20% more for everything they buy.

 This is not true.

The failure of Detroit will not affect either of my businesses one of which is manufacturing.  It will not affect my son's business either.  Off the top of my head I can name dozens of things that will not be affected.

D-Town
by Silver Member on Aug. 3, 2013 at 10:59 AM
It is true. More than half of all goods bought and sold in the U.S. go through Detroit. If Detroit goes the cost of shipping goes up. Cost of shipping goes up so do prices.


Look up how much of the nations goods are shipped through Detroit.


Quoting yourspecialkid:

 


Quoting D-Town:

I think we should not bail out the city then hope we can come up with the extra money everyone will be shelling out when it goes belly up. If Detroit goes, everyone can expect to pay 10-20% more for everything they buy.

 This is not true.


The failure of Detroit will not affect either of my businesses one of which is manufacturing.  It will not affect my son's business either.  Off the top of my head I can name dozens of things that will not be affected.

AlekD
by Gold Member on Aug. 3, 2013 at 11:00 AM

So what's your solution?

Quoting candlegal:

Decades of dems running the city. Nothing will change if they get bailed out, they will just want another one in a decade or so.
Quoting yourspecialkid:

 So we should borrow money from China to bailout a city that has been in decline for decades?

It might be an option if the money didn't have to be borrowed, didn't come from taxpayers that have NOTHING to do with Detroit and if the city was on the mend and seeing serious growth. 

Otherwise, no thanks.

 


                      

"True joy does not come from owning something, it comes from the encounter in relations with others, in feeling loved and understood. Because joy comes from the gratefulness of an encounter. The joy of "the encounter with Jesus" and in "feeling loved by God. " Pope Francis                                                    My Blog

sweet-a-kins
by Emerald Member on Aug. 3, 2013 at 11:03 AM

majority favors gay marriage

republicans oppose

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