Detroit said Friday [June 14, 203] it would stop making payments on about $2.5 billion in unsecured debt and ask creditors to take about 10 cents on the dollar of what the city owes them in a move to avoid what bankruptcy experts have said would be the largest municipal bankruptcy in U.S. history.Detroit used to be a city and region to which people went to fulfill the American dream. No more!
The same kind of thing may be in progress in California: San Bernardino, Stockton, and, possibly, Los Angeles.
Democratic Party control of a city or region is economic disaster — time and time again.
UPDATE (RELIAPUNDIT):
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