Detroit, once a symbol of industrial might, becomes largest US city to file for bankruptcy

  • Article by: COREY WILLIAMS , Associated Press
  • Updated: July 18, 2013 - 9:05 PM

DETROIT — Once the very symbol of American industrial might, Detroit became the biggest U.S. city to file for bankruptcy Thursday, its finances ravaged and its neighborhoods hollowed out by a long, slow decline in population and auto manufacturing.

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dumbgopJul. 18, 13 3:30 PM

You liberals keep pledging and spending we don't have, and this is what happens. Stockton, California anyone?

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smeeagain2Jul. 18, 13 3:35 PM

What, he couldn't sell off public assets to the republicans campaign contributors at pennies on the dollar?

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ollie3Jul. 18, 13 3:45 PM

Wait, they recently built a new ballpark. They recently built a new football stadium. They had a Superbowl there a few years ago. They've had Final Fours, All Star Games, and the World Series in recent years. This 'news' story has to be a lie, because everyone knows that sports sports sports brings economic prosperity.

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hudsonbuckJul. 18, 13 3:45 PM

I am amazed that Detroit beat Chicago and Detroit to this action.

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hudsonbuckJul. 18, 13 3:47 PM

The biggest problem with unsustaneable growth is that eventually it comes to an end and our governmental leaders and institutions have no idea how to gracefully deal with contraction.

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cheiron55402Jul. 18, 13 3:54 PM

I was suspecting California would have done this before Detroit. California is in the red by $127.2 billion.

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kilofoxJul. 18, 13 3:54 PM

Funny what happens when other people's money runs out. Making promises that you can't keep. Socialism dead on arrival.

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nowwhereJul. 18, 13 3:55 PM

It has started. The liberal scourge of handouts, entitlements unattainable pensions is upon us. California will be next followed by similar quagmires. Get your wallets out.

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unicorn4711Jul. 18, 13 4:17 PM

Free market capitalism doesn't work. The auto industry left detroit; the criminals moved in. You'd never see this sort of thing, let alone Detroit's crime rates, occur in a socialist country like Sweden or Finland. Americans don't care about their own people though.

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garagewineJul. 18, 13 4:27 PM

"I am amazed that Detroit beat Chicago and Detroit to this action."---Chicago's situation isn't quite as dire, but its bond rating was just downgraded by Moody's due to its large and growing pension liabilities.

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