Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

11/30/2012 (2 years ago)

Catholic Online (www.catholic.org)

City facing bankruptcy, but has more going for it than people think.

Detroit is one of America's most famous cities, yet it may cease to exist at least in one regard. State officials are mulling over the prospect of allowing Detroit to declare bankruptcy and dissolve itself into Wayne County. Despite this, Detroit has more going for it than most realize.

Detroit faces bankruptcy today, but could be America's comeback city tomorrow.

Detroit faces bankruptcy today, but could be America's comeback city tomorrow.

Highlights

By Catholic Online (NEWS CONSORTIUM)

Catholic Online (www.catholic.org)

11/30/2012 (2 years ago)

Published in U.S.

Keywords: Detroit, bankrputcy, reputation, comeback city


DETROIT, MI (Catholic Online) - According to local WWJ Newsradio 950, several Republican lawmakers are openly discussing the idea of allowing the city to vote itself into bankruptcy. Such a move would liquidate the city's assets to pay off creditors and allow Detroit to start with a fresh fiscal slate.

State governor Rick Snyder told WWJ that he would not rule out the possibility. "Detroit needs to solve their problems, but they need support and we've been very supportive partners, I believe, in terms of offering different ideas and thoughts. And I just encourage them to work harder about working better together," he said.

Others oppose the notion outright. Karen Dumas told Talk Radio 1270, "No, I don't think that dissolution is the solution for the city of Detroit; I don't. With every step we get more and more fearful . and maybe at some point that's going to make everybody wake up and realize that we need to stop playing politics and come up with a solution for progress. I don't know at what point that's going to happen."

In reality, there are a number of options the financially troubled city can explore, however bankruptcy is one.

A number of cities across the country have either declared bankruptcy or are considering the option. As the Great Recession draws to an end, it leaves behind a wake of fiscal destruction. The long period of prosperity from the 1990s through the end of the Bush era spoiled people and saw both households and cities grow expenditures well beyond what could be sustained.

As the recession consumed jobs, it also took revenues out of city coffers. Many cities cannot meet their financial obligations without making deep cuts to programs that have become dear to many people, especially long-term benefit programs such as pensions and health care.

In addition to massive revenue loss resulting from a decline in the local job market, Detroit has long struggled with a poor public image. Many still believe Detroit to be a crime-ridden place, a reputation the city developed in the 1980's.

Still, Detroit has made something of a comeback. The auto industry has recovered and although leaner than before, Detroit still enjoys a positive reputation in the industry. Many auto manufacturers proudly announce their vehicles are made in Detroit.

Unfortunately, the city remains in dire financial straits and will not likely recover soon as talks to renegotiate contracts, among other challenges, fall through.

Detroit is a tough city. It's people are resilient and its industry is strengthening again. Even if Detroit must declare bankruptcy in the short term, the long term future for the city remains strong.

Detroit may very well be America's comeback city when all is done.

---


Pope Francis: end world hunger through 'Prayer and Action'


Copywriter 2015 - Distributed by THE NEWS CONSORTIUM

Pope Francis Prayer Intentions for May 2015
Universal:
That, rejecting the culture of indifference, we may care for our neighbours who suffer, especially the sick and the poor.
Evangelization: That Mary's intercession may help Christians in secularized cultures be ready to proclaim Jesus.


Rosaries, Crosses, Prayer Cards and more... by Catholic Shopping .com


Comments


More U.S.

Crackdown by federal agents on 'Pill Mills' in four southern states Watch

Image of An average of 44 people in the U.S. dies every day from opioids. These drugs include Vicodin, OxyContin and Percocet.

By Catholic Online (NEWS CONSORTIUM)

The Drug Enforcement Administration and other authorities are raiding pharmacies, pain clinics and other facilities in four southern U.S. states. It is all part of an aggressive crackdown on prescription pain drug abuse. LOS ANGELES, CA (Catholic Online) - ... continue reading


Matt C. Abbott: Why I wrote Pope Francis about an exorcist

Image of Father William S. Bowdern, S.J. Father Bowdern was the chief exorcist in the 1949 exorcism of Robbie, the teenaged boy whose case inspired William Peter Blatty's 1971 novel The Exorcist, which subsequently was made into a feature film.

By Matt C. Abbott

Here's one name I haven't heard mentioned in regard to possible canonization, yet it seems he'd be a good candidate: Father William S. Bowdern, S.J. Father Bowdern, who was born in 1897 and died in 1983, was the chief exorcist in the 1949 exorcism of "Robbie," ... continue reading


FBI lectures High school students on resisting ISIS recruitment Watch

Image of The FBI is planning to take its message to other schools in the Tri-State Area to reach kids at critical adolescent ages.

By Catholic Online (NEWS CONSORTIUM)

High school students at Bergen County School, in Bergen County, New Jersey got a surprise lecture from FBI agents. They warned students away from sophisticated new techniques used by Islamic State to join their ranks. In particular, a new ISIS-produced video ... continue reading


Bin Laden's secret files: What we found and what's been released Watch

Image of The U.S. Department of National Intelligence has released a report of documents that were captured during the May 1, 2011 raid in Pakistan that resulted in the death of Osama bin Laden.

By Matt Waterson (NEWS CONSORTIUM)

The U.S. government has begun declassifying and releasing documents that were captured during the 2011 raid of Osama bin Laden's hideout in Pakistan, and some of what has been released shows that America's number one enemy for almost a decade was obsessed with ... continue reading


Are there weapons aboard? U.S. Air Force space shuttle's secret contents no longer a secret Watch

Image of

By Talia Ramos (NEWS CONSORTIUM)

The U.S. Air Force's X-37B space shuttle, launched into Earth's orbit, was revealed not to contain weapons as many feared. MUNTINLUPA, PHILIPPINES (Catholic Online) - According to the published manifest, the space shuttle carries a new form of Hall ion-powered ... continue reading


Catholic University removes insensitive mural honoring convicted killer Watch

Image of

By Hannah Raissa Marfil (NEWS CONSORTIUM)

Marquette University in Wisconsin has officially taken down a mural of Assata Shakur, one of the FBI's most wanted. Shakur was convicted of killing a state trooper in New Jersey before fleeing to Cuba in 1973. The Catholic university's authorities were warned of the ... continue reading


As John Wayne would say, YO! America's biggest ranch up for sale for $725 million Watch

Image of  The Waggoner Ranch includes the 510,000-acre ranch spread over six North Texas counties, with two main compounds, hundreds of homes, about 20 cowboy camps, hundreds of quarter horses, thousands of heads of cattle, and 30,000 acres of cultivated land.

By Catholic Online (NEWS CONSORTIUM)

Waggoner Ranch, America's biggest ranch stretches over 510,000 continuous acres, or 796 square miles, making it a plot of land bigger than the island of Oahu and New York City. It is up for sale for $725 million. LOS ANGELES, CA (Catholic Online) - Realtors are hoping ... continue reading


See what is REALLY killing Americans with macabre 'Death Map' Watch

Image of

By Catholic Online (NEWS CONSORTIUM)

While heart disease and cancer are the most common killers in the United States, a new map proves that these causes vary from state to state. Said "Death Map" shows the most distinctive cause of death, which is the rate higher than the national average. LOS ... continue reading


What will Boston Marathon bomber face in Supermax prison, described as 'worse than death?' Watch

Image of Inmates have little to no contact outside of guards and prison staff. All prisoners must wear leg irons, handcuffs and stomach chains when taken outside their cells.

By Catholic Online (NEWS CONSORTIUM)

ADX, the nation's most secure "Supermax" prison in Florence, Colorado may be getting another inmate shortly: 21-year-old Boston Marathon bomber Dzhokhar Tsarnaev may get life in prison - or if he's given the death penalty, a brief stay in Terre Haute, Indiana ... continue reading


Has OPEC won the oil war? Oil prices rebound after shale market collapse Watch

Image of The first battle between OPEC and the U.S. over the oil market may be over, but don't count the U.S. out just yet.

By Matt Waterson (NEWS CONSORTIUM)

Saudi Arabia's strategy of flooding the global markets with oil in an effort to hamper production by rivals such as Russia, the U.S. and other non-OPEC countries seems to be working. The oil producing giant has produced a little more than 10 million barrels of ... continue reading


All U.S. News

Newsletters

Newsletter Sign Up icon

Stay up to date with the latest news, information, and special offers

Daily Readings

Reading 1, Acts 25:13-21
13 Some days later King Agrippa and Bernice arrived ... Read More

Psalm, Psalms 103:1-2, 11-12, 19-20
1 [Of David] Bless Yahweh, my soul, from the depths ... Read More

Gospel, John 21:15-19
15 When they had eaten, Jesus said to Simon Peter, ... Read More

Saint of the Day

Saint of the Day for May 22nd, 2015 Image

St. Rita
May 22: St. Rita was born at Spoleto, Italy in 1381. At an early age, ... Read More

Inform, Inspire & Ignite Logo

Find Catholic Online on Facebook and get updates right in your live feed.

Become a fan of Catholic Online on Facebook


Follow Catholic Online on Twitter and get News and Product updates.

Follow us on Twitter