Welcome back citizens,
By now you all know that another great regional city in the United States, Detroit, controlled for the past 50 years by the debtor party, by which I mean The Democrats, whom have made Detroit bankrupt with Legacy Costs known since 2011 that threatens to destroy not only the city, but its debt ridden denizens as well.
However, the destructive debt disaster is nationwide, so bad we “cannot see straight anymore” as you will soon learn herein.
Detroit’s bankruptcy as perceived overseas is but a tip of the iceberg. Here in the United States TENS of MILLIONS of citizens live in POVERTY from poor decisions by Democrats over the decades of their debt ridden deceit.
In their infinite lack of wisdom, Democrats have left Detroit debt ridden, including Police and Fire department budgets paying 83% of every dollar in dubious pension payments that may never be honored.
Bureaucrats promised such luxuries to Detroit voters in order to remain in power, deceiving them in the process. Clearly the bureaucrats “had too much”, seemingly always saying “it’ll be okay” like the lyrics in our featured song by Lady Gaga.
But it is not okay to “Just Dance” to debt. Detroit debt is ruining lives not only in their city, but all across the USA who purchased Detroit debt (bonds) who may never see 100% of their money ever again.
Unlike Lady Gaga who actually earns a living making people happy, Detroit Democrats dictated doom to their denizens from destructive addiction to debt!
Bloviating Bureaucrats Blow Billions:
For comparison are the facts that Bloviating Bureaucrats are not doing their jobs despite huge salaries. In the San Francisco Bay Area, The Bay Area Rapid Transit District (BART) General Manager Grace Crunican, who is referred to as a menace, fled Seattle after bilking that city, now makes an obscene base salary of $333,000 a year plus benefits.
Grace Crunican’s “payoff bribe” at taxpayer expense with BART Bureaucrats include her being 100% vested in her health and retirement in only two years, something unheard of by any employment standard except for deceitful Democrats double dealing destructive debt.
Instead of working, corrupt Crunican hired even more corrupt Thomas Hock for $399,000 for three months work, plus expenses which equates to a 1.6 MILLION dollar yearly contract rather than do the job she was paid for!
An example of wasteful Bloviating Bureaucrats? The useless California Coastal Commission with a budget exceeding $17 MILLION a year conduct wasteful pork laden lavish parties rather do something constructive, like promote construction of offshore energy and on shore solar energy plants to ensure California produces more solar energy than 9 watts per citizen as we previously reported.
Like The California Air Resources Board, whose pork laden budget (over $651.9 million a year in 2010) includes a top paying job of over $768,000 a year who are “employing” over 1,275 useless bureaucrats who do nothing but generate piles of non productive paperwork. Their claim to success? Driving industry from the California via red tape and regulations based on whim, rather than true science or fact.
California is a state that carries the highest fee structure and recently raised income taxes $50 BILLION to cover 30 years of Democrat waste where over $3.4 BILLION is wasted on expenditures like paying contractors a bonus when they LOSE BIDS and the so-called E-Waste recycling “fee” that was really another tax!
Across the United States, these Bloviating Bureaucrats earn more money per year than the President of the United States, Barack Obama, who earns some $450,000!
I do not know about how you feel about Barack Obama, but NO Bureaucrat should make more money than the President of the United States, PERIOD!
Yet year after year the Democrats waste more and borrow more throughout the country! Similar examples of Democrat waste exist that have produced a nation of debt among the States of the United States of $4 TRILLION by 2011, second only to the nearly $17 TRILLION debt borrowed since Barack Obama added $8 TRILLION after he took office in 2009. Obama is increasing our mutual doom at the rate of nearly $2.2 BILLION a day!
Democrats Deal in Debt Destroying Detroit:
Due to destructive debt decisions by Democrats over many decades, Detroit has now been forced to file for financial protection from tens of thousands of it’s creditors, including pensioners, under Chapter Nine of the United States Bankruptcy Code.
Sadly, the situation is precisely the same for Democrat deceivers like President Barack Obama, Senator Harry Reid, US House Minority Nancy Pelosi, House and Senate Minority Whips Steny Hoyer and Senator Dick Durbin, and fibber minions which include Democrat National Chairperson Debbie Wasserman-Schultz who dictate debt at the United States Federal Government level.
Each of these Bloviating Bureaucrats are making promises to the Unites States citizens without leveraging the means available for the last 60 years to pay for entitlements, including pensions in Detroit, as we have reported previously.
For those unaware, Chapter Nine of the United States Bankruptcy Code was created specifically for municipalities having been enacted into law in 1934 under another famous borrower of other peoples money, President Franklin Delano Roosevelt.
No doubt one of the greatest American Presidents, FDR at least delivered on the promises of leveraging the nations energy resources judiciously.
The Democrats, including President Barack Obama’s failure to deliver a national energy policy, withholding support for 85% of the United States energy, in effect holding nuclear, even the Keystone Pipeline hostage, which in turn caused Detroit to falter as an economic engine. Put pure and simple, without energy, any city, any economy will falter.
Nuclear Energy is something the Democrats have resisted by using fear tactics to maintain the votes from Environmental Fascists who have bribed them with campaign donations for decades. Detroit in 2013 may change all that.
Roosevelt pushed through the Bankruptcy legislation prior to his Work Projects Administration (1935) (WPA was later, in 1939-1943, called the Works Progress Administration) under the New Deal (1933-1939) were also enacted, because cities across the country were faltering financially from extremely low tax revenues. The situation nearly brought the United States to revolution.
Two major pillars of the “New Deal”, the Agricultural Adjustment Act and the National Industrial Recovery Act were later found to be unconstitutional in 1935, however the Bankruptcy legislation held firm providing orderly reorganization protection for municipalities during The Great Depression of that era.
The Great Depression, similar to the current economic malaise of 2009-2013 under President Barack Obama, lasted until World War Two when jobs became available to fight for freedom and help avoid more bankruptcies because enough people were employed to pay taxes. This is unlike today’s reality in 2013 where 23 MILLION are without full time jobs and 46 MILLION (1 in 6) LIVE in POVERTY.
Detroit, with at least $18 BILLION dollars in debt is hanging on by a thread after two courts ruled it had violated Bankruptcy Code and was potentially ineligible for protection.
Overruled for the time being by Federal Courts, Detroit is another example of Liberal Democrat wonton spending policies that lead to bankruptcy, and potentially another Great Depression due to the Democrat corrupt financial policies of endless borrowing.
Like President Barack Obama and Governor Jerry Brown, what has gone awry is over spending and borrowing run rampant withholding the resources to pay back the money. The debt created and wasted on their useless pork barrel spending, would instead lead to peace and prosperity via energy security if only they would do the right things.
Some experts place Detroit’s debt at well over $20 BILLION since the liabilities promised to retirees are growing for the 20,000 people hornswoggled by devious Democrat deadbeats, who rather than tell the truth, kept making promises it could not keep without the energy to engineer a turn-around.
Much like Barack Obama who keeps promising to create jobs, but who fails to realize that governments, city, county, state or federal, do NOT, nor have they ever created jobs, only industry does. Yet Democrats keep demanding more debt for “vapor-ware” jobs.
Detroit is a city spending approximately 35% more a year than it takes in. Versus the $1.1 BILLION a year it spends, Detroit sports a minimum $327 MILLION dollar a year deficit for 2011-2012 as of January 2013, growing to an estimated $380 MILLION according to a more recent audit conducted in April of 2013.
The facts are that Detroit simply ran out of money that it was available to either borrow, cheat or steal from the poor citizens trapped by the dictatorial Democrats who tricked them for over 60 years that everything would be okay “if you just re-elect us again”.
Things are NOT OKAY in Detroit or the three dozen other municipalities and utilities in the Unites States that have been run into the ground by the destructive Democrat demons of debt who keep promising the citizens “a world of entitlements” with no way to pay for them due to failed Democrat policies.
The net result is therefore that citizens are unable to pay taxes to municipalities like Detroit, Michigan, San Bernardino, California, Central Falls, Rhode Island, Jefferson County, Alabama, and many others teetering on the edge due to the Democrat policies of keeping the nation in POVERTY and beholden to a Federal Dictatorship for welfare and food stamp handouts for 44 MILLION which have enslaved the once employed people in the United States..
To his credit, FDR leveraged the known United States energy reserves of the time to ensure a full employment economy by the early 1940’s to be prepared to fight the enemies of freedom that were out to loot the planet during World War Two.
Speaker of the United States House of Representatives John Boehner is trying to help President Obama understand the energy reserves properly utilized by FDR not only saved the United States, he helped save the Free World from tyranny.
Like today, this is a HINT for President Obama to not trust Communist Russia and China, nor the dictatorships of Syria, Iran, North Korea or Venezuela and use all our energy to avoid having to become beholden to such evil government nations and put free people first like FDR did.
“All of the Above Energy” is Key to STOP POVERTY:
Just imagine if all these United States citizens were working the Arctic National Wildlife Refuge, at California, Florida and New York offshore energy facilities, and all Federal Shale lands producing energy and selling it like Canada does to benefit all their citizens?
It is simple my friends, most of the the 23 MILLION workers who have completely given up trying to find a job would be employed contributing to the country and be able to take care of their families without Food Stamps.
But because Barack Obama, Harry Reid, Nancy Pelosi believe it is more important to protect frozen tundra and tortoises and spew tripe about Fracking and removing MILLIONS of acres of job producing Federal Lands from citizens who want to work, they are keeping 46.2 MILLION in POVERTY rather than helping them get to work!
The primary reason for these conditions and the bankruptcies, and dozens of others in the United States is due to the Democrat policies of keeping over 85% of the nations revenue sources, primarily energy “off the market” with TENS of MILLIONS of citizens kept hostage without good paying jobs available from an “All of the Above Energy” policy we were promised when Barack Obama was a US Senator running for office.
Does this sound familiar? It should. Much like the bankrupt United States of America reeling under the corrupt administration of Barack Obama, which borrows, prints money, and invests in a stock market in order to artificially keep it afloat, some 36 other municipalities in the USA have gone bankrupt from borrowing.
What many do not realize is that Detroit is only the latest in a series of cities that have been controlled by Liberal Democrats’s who have used freebie giveaways and pension bribery to stay in power, borrowing more and more each year, each decade, to cover up their corrupt methods of debilitating, destructive debt.
Write, call, e-mail The President, and The Democrats and let them know you want the one in six, the 46 MILLION out of POVERTY by opening ALL USA Energy sources for development and jobs! Tell the Democrats you will NOT vote for any Democrat that promises things they cannot pay for like they said they would!
Stay tuned as Kenn from RockwaterReports announces more of our new Real News series in the future!
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