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Published On: Fri, Jul 19th, 2013

Obama ‘monitoring’ Detroit bankruptcy, Rand Paul says he is ‘bailing them out over my dead body’

Although the federal government has not committed federal money to Detroit in an effort to bail them out of their financial woes, Politico reports that President Obama is monitoring the situation in the Motor City.

photo/Revisorweb

photo/Revisorweb

“While leaders on the ground in Michigan and the city’s creditors understand that they must find a solution to Detroit’s serious financial challenge, we remain committed to continuing our strong partnership with Detroit as it works to recover and revitalize and maintain its status as one of America’s great cities,” spokeswoman Amy Brundage.

However, one US Senator says if Mr. Obama thinks he’s going to give Detroit a bailout, he’s going to have a fight on his hands because we are straight up broke.

Sen Rand Paul (R-KY) told Matthew Boyle at Breitbart that he “will use every resource he has at his disposal” to stop President Barack Obama from bailing out newly-bankrupt Detroit.

“There’s some good things that come out of bankruptcy,” Paul said. “One is you get to start over. Bankruptcy lets you be forgiven of your debt. And you do so by getting new management, better management, and by getting rid of unwieldy contracts, contracts that give you where public employees are getting paid twice what private employees are and things come back more to normal. That’s the way cities and businesses can recover. 

“I basically say he [Obama] is bailing them out over my dead body because we don’t have any money in Washington.”

Paul says if Detroit gets bailed out it will set a horrible precedent for other cities to not get their houses in order.

 

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About the Author

- Writer, Co-Founder and Executive Editor of The Global Dispatch. Robert has been covering news in the areas of health, world news and politics for a variety of online news sources. He is also the Editor-in-Chief of the website, Outbreak News Today and hosts the podcast, Outbreak News Interviews on iTunes, Stitcher and Spotify Robert is politically Independent and a born again Christian Follow @bactiman63

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