It’s a town known for car-making, music, and the Tigers and Lions. Now Detroit is also known as the largest American city to ever file for bankruptcy.
I’ve never been to the Motor City. An uncle used to work for General Motors in Michigan.
Some will say the unions did it; their greed sapped all the money and ran off business. They’ll say the city over-promised its employees. I’m sure that’s part of it. But the city’s tax base has eroded by 50% over the past 40 years. When you have that many people leaving town … and you don’t cut services and/or raise taxes … something’s got to give.
On top of that, car-making is no longer exclusive to Detroit. In addition, we’ve had a nasty recession the past few years … and that has had a big impact on government at every level.
Detroit caused many of its own problems by promising too much. Still, I hate to see one of our nation’s biggest, proudest cities admit it can’t pay its bills.
Our thought for today is from Aristotle:
“A great city is not to be confounded with a populous one.”