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US Taxpayers bailout of Detroit.

Discussion in 'OFF TOPIC' started by BonifayRam, Apr 17, 2014.

  1. BonifayRam

    BonifayRam Well-Known Member

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    It it just me here or is this just plain wrong?

    Obama administration begins stealth bailout of Detroit

    President Barack Obama is using $100 million taxpayers’ dollars to help keep Detroit’s pension funds afloat, contradicting his administration’s commitment to avoid a bailout.
    The federal $100 million is being described as “blight remediation,” but it allows the city’s new managers to reshuffle more cash into the city employees’ pension funds, which were looted by city and union officials for several decades.

    http://www.freep.com/article/201404...n-talks-free-up-100M-aid-Detroit-pension-deal

    http://dailycaller.com/2014/04/16/o...-of-detroit-contradicting-earlier-statements/
    #1
  2. bluecoconuts

    bluecoconuts Well-Known Member

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    Wrong mostly because your article is wrong. At least the one you quoted above. Biases man, never trust something so obvioysly biased, even if it agrees with what you believe or want to believe. Nothing is happening right now, certainly nothing in secret, and the money they would use would be from existing funds that were set up in 2010 to help states who were hit especially hard from the housing crisis. Don't get me wrong, I'm not a Detroit supporter, but I'd say they qualify.
    #2
  3. BonifayRam

    BonifayRam Well-Known Member

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    I quoted two not one from many reports on this are all Bias??? Both of my selected articles claim that Detroit will be receiving federal $$$ fact or not? Housing??? No "city employees’ pension funds ".. not so sure how dumping millions of Gov funds that has been borrowed now from the children & grand children from their future taxes is Not wrong. If you do it for Detroit get ready there are another 100 cities getting in line.

    I will follow this in the future just for the fun of it. And..you said ...."Nothing is secret" ??? in government??? o_O:LOL:
    #3
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  4. bluecoconuts

    bluecoconuts Well-Known Member

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    You've taken what I've said completely out of context.

    First I never said nothing was going on. What I said was the article you quoted was very biased. And it was, if you can't see that then I can't help you. In fact you put the link to the Detroit Free Press directly under the Daily Caller that you quoted, as if that's where the source of the text came from. The Daily caller is a conservative opinion website, so yes it is very biased, don't play dumb. It would be no different from posting something from the liberaloasis (no idea how popular that is, just googled liberal political websites and it was one of the ones near the top) and then standing there acting confused when someone said "Yeah, that's a biased article."

    Not only can you tell the bias from the source of the article, but you can tell from the style of writing. First the title alone is "Obama begins stealth bailout of Detroit." Nothing has happened, they're in talks, so the article is already full of crap just two words in. Then they stay stealth, and later on say that the Detroit Free press exposed the "stealth bailout". They're in talks and they're not doing it in secret, so nothing is being 'exposed' they're all pretty open about it. So no, nothing in secret has been done. Government has plenty of secrets, but this isn't exactly one of them. If it were then our government doesn't exactly know how to keep a secret, because the first rule generally isn't to tell everyone.

    As for what they're doing, eh. The money is already there, it's been there for a while now, 7.6 billion dollars to be exact. Nationwide we've used about 2 billion dollars, so 100 million dollars from the 7.6 billion wont really be all that much from a program, that hasn't been used as much as previously thought. Also most of the money, over 300 million dollars would be coming from Michigan, they're just trying to reduce the amount of pension debt, and hoping that existing federal money would help gain leverage.

    Even still nothing has happened yet, Obama doesn't want to set a precedent of dishing out bailout money for pension debt relief because he doesn't want a bunch of cities to just get in line and ask for money too. I'm not in support of them, frankly I think Detroit is a shithole and could care less if they went under. If he gives them 100 million or not, you wont see me freaking out about it. There's more things to worry about then to get all up in arms every time some writer takes an article and throws in some colorful language to make it scary and interesting.
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  5. BonifayRam

    BonifayRam Well-Known Member

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    The Daily Caller is not just a "opinion website". Any review by anyone of this site would most likely find your opinion description of this well known news site as being on the mark. I would suggest such a review if anyone has time. Much more news than commentary or opinion. I do not find this new site bias in any fashion period.

    http://dailycaller.com/

    We will find out in the near future if this article is truth or fabrication. In ref. to the President Obama doesn't want to set a precedent dishing out bailout $$$ for pension debt .....sorry to say he has already set that precedent early in his first four years.

    I was hoping to get more opinions by our members on how they feel about this article. I just happen to be on a government pension after over 3 decades of service. I would have some serious issues if my pension was being supported heavy by US taxpayers like this article describes.

    Yes there are many things ongoing in this administration that could cause many "to get all up in arms every time" but this particular article hits close to my current situation.

    One thing we can agree on the TV show Cosmos is excellent!
    #5
  6. Ramhusker

    Ramhusker Well-Known Member Pick 'Em Champion Pit Boss

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    I lived in Detroit for a couple of years in 1988 and 1989 and it was well on its way to world-class decay and corruption. It is undoubtedly the most prime city in the US to breed our very own domestic terrorists. I hope not a federal dime is ever used to try and revitalize a sure fire failure. I think the best use of the carcass of Detroit is to level it and build an oil refinery.
    #6
  7. PhxRam

    PhxRam The Estimated Prophet

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    I would be less concerned about a govt backed pension then my teamsters pension that happens to disappear from time to time.
    #7
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  8. bluecoconuts

    bluecoconuts Well-Known Member

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    Are you kidding me? The website is completely biased, it was founded by Tucker Carlson and Neil Patel (who was an advisor to Dick Cheney) who are pretty well known conservative figures. That doesn't mean that they're just making things up left and right, but it means they're going to put a slant on things (which they did on this story) and keep to their own beliefs. It's no different from any other political website that caters to any other party. Check out the Bundy story, depending on the site you go to he's either a hero or a criminal, same facts different skews. That doesn't mean the article is completely fabricated it means the tone is designed to make you think something else. There's no "let's wait" because according to the article it's happening now. That is where they mislead you.

    If you could show me where Obama has been issuing out pension bailouts, because last I heard the auto bailout took away pensions from 20,000 workers. And if you have a government pension then it already comes from taxpayer money.
    #8
  9. RamzFanz

    RamzFanz Well-Known Member

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    Union pensions are also taxpayer money. It's a hidden tax. Unions demand pensions and we the people must pay them. No?

    Unions also fight to force unionisation upon the unwilling. Obama supports that. Isn't paying forced dues really taxation? How is joining a union, if you are even ALLOWED to, a requirement to having a job you are qualified for?

    Unions wouldn't even exist anymore without radical Democratic support. Union by force is how Unions survive.

    I have to tell you, I hate unions. I have hired many a solid employee who couldn't get into the union because they didn't know anybody. Now they know me. A fair person who doesn't ask that they pay me a griff just to work.

    I also hate unencumbered capitalism. That's what the government is sworn to stop, all enemies foreign and domestic, not free enterprise. They PROMOTED the mortgage crisis! There is massive documentation of Clinton building the mortgage crises!

    What I want is to reel in the Feds, stop the spying, stop the control of the markets that just favor their friends, expect that they protect citizens, and act within their legal rights.

    Obama does none of those. He's horrible. He's giving away your rights wholesale and consolidating power. He has no legal right to do half of what he does.
    #9
  10. bluecoconuts

    bluecoconuts Well-Known Member

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    I'm not a big union fan either. I hate our entire process, it's a battle every time, what message does that send? How about we all sit and work together instead of trying to freak the other one over. My girlfriend was forced to join a union, had to pay them a bunch of money and then she got fired because they didn't want her to be there for a year and roll over into the union benefits. The entire thing is messed up. If you don't want to join you shouldn't have to.
    #10
  11. PhxRam

    PhxRam The Estimated Prophet

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    It is called being in a right to work state.
    #11
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  12. BonifayRam

    BonifayRam Well-Known Member

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    Not exactly....My state government pension does not come from a borrowed federal stash fund that will be paid for by future tax payers that is handled out @ the pleasure & will of just one man. Taxpayers $$$ from the other 49 states are not involved with any of my retirement funds. Yes the accumulated pension $$ did from Florida state taxpayers from 1980 to present Florida tax payers contributed to my pension as contracted & part form of wages over many past decades. The State of Florida retirement funds continues to grow and grow @ a good clip. The Federal Gov who has dished out & will dish out from this stash is well in the RED close to 17 trillion today, along with over 87 trillion in "unfunded liabilities."

    The State of Florida of course can not print money & is far from being financially broke it must operate in a fiscally sound manner opposite from the Federal Gov. . Of the 50 states this state is in the top 5 or 6 of most financially sound states & improving fast day by day. The accumulated funds entered in my retirement account while I worked and earned my wages . Florida has many different ways for its employees to build on retirement funds and once retired how one uses such accumulated funds. Most state employees draw out completely from this account on retirement date to ensure their family members and themselves have it. One option is for some is where the state holds the total maintain control & disperse from your funds monthly in the form of state government pension payments they will pay a small amount to be able to hold onto these funds into the future and use & invest as the state see fit.

    Yes the State of Florida is much better @ it than the Federal Gov is by a long way. If you think the State of Florida has a heavy tax weight from that burden that I have placed on it ....Florida does not have a state income tax that it burdens its residents with like I said & is doing just fine.

    I would imagine if I lived in the State of California who is in last place on that list of 50 states in the amount of debt... I may be happy to see President Obama sending some of that borrowed Fed $$$ out to the fiscally unsound areas like California. California is foaming @ the mouth waiting & looking forward to to the near future for a Federal bailout from the Obama stash. If I were a resident in a state like California I might be up in arms for anyone who just happens to post & conveys in a post that they believe there is something just wrong with federal stash handout of borrowed tax $$$ to long long term train wreak of a city or state.

    Finally yes PhxRam & I are in a solid right to work states unlike California!
    #12
  13. Thordaddy

    Thordaddy Binding you with ancient logic

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    Racist
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  14. Ramhusker

    Ramhusker Well-Known Member Pick 'Em Champion Pit Boss

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    Hahahaha
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  15. bluecoconuts

    bluecoconuts Well-Known Member

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    If you lived in California you would know that it's the largest economy in the country, top 10 in the world, and puts more money into the fed than it gets back to prop up all those flyover states that can't afford to do everything that they did. But you know, economics. By the way, Florida takes more than it gives.
    #15