Weekend Economists Take a Chance and Call a Bluff July 26-28, 2013

[bread_and_roses]

3. As Detroit Drowns, GOP says: 'Bailouts For Banks, Not People'

http://www.commondreams.org/headline/2013/07/26-5

Published on Friday, July 26, 2013 by Common Dreams
As Detroit Drowns, GOP says: 'Bailouts For Banks, Not People'
With fangs out, Republicans push to codify national abandonment of the city
- Sarah Lazare, staff writer

The Obama administration is making no sign of helping Detroit as its emergency manager and republican governor steer the city towards bankruptcy proceedings.

Yet, that is not enough assurance for some in the GOP who are pushing for passage of a law explicitly banning the bailout of Detroit, and any other municipality for that matter.

At least five republican senators have recently proposed tacking language onto spending bills that would broadly prohibit municipal bailouts.

These proposed measures, which would have far-reaching implications for towns and cities across the US if passed, are aimed towards preventing any federal aid to Detroit.

GOP leaders are attacking the city with notable venom at the moment its 700,000 residents—80 percent of whom are African-American—must contend with deepening crises of poverty and privatization.

I think it was in 2009 that the AFL-CIO was part of a movement calling to "Make the Banks Pay." I have said for years we should have just stuck with that, not moved on to the next campaign, electoral politics, or anything else. No, it didn't catch fire right away ...we had our usual little "actions" and then went on to the next thing .... but that was and is the crux of the matter.

Instead, we GAMBLED on another election ..... and we see where that went (for instance, note the first sentence of the article)