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Earlier this month at a presentation on campus, Teresa Gillotti, the city planner of Ypsilanti, spoke about how much of an asset Eastern Michigan University is to the city.
Last Monday, on campus Teresa Gillotti, the city planner of Ypsilanti, presented a draft of the city’s Master Plan to a room of 20. (A very lackluster turnout when you consider the 18,914 stakeholders who attend the school.)
Despite the drop in the national unemployment rate reported by the U.S. Bureau of Labor Statistics earlier this month, the state of Michigan saw an increase in the number of jobless claims.
The National Bureau of Economic Research announced a nascent recession in the United States in 2007, and then cited its end in 2009. There has since, however, been an economic malaise, with the national unemployment rate at 7.3 percent and state unemployment rate at 8.8 percent.
Despite the drop in the national unemployment rate reported by the U.S. Bureau of Labor Statistics earlier this month, the state of Michigan saw an increase in the number of jobless claims.
“No,” answered Republican Gov. Rick Snyder of Michigan when asked by Bob Scheiffer whether or not the state would ask for federal bailout funds for Detroit. “I’ve said before, ‘the state cannot bailout the city of Detroit.’ It’s not just about putting more money in the situation. It’s about better services to citizens…It’s about accountable government.”
Unfunded pension liabilities have been in the news as of late, as have tales of bankrupted cities and cash-strapped states. The debate has been over which caused the other.
There is a reason that Detroit must not pay its creditors in Rembrandts and Matisses.
Stockton, Calif. filed for bankruptcy on June 28, 2012 and San Bernardino, Calif. filed for bankruptcy on July 10, 2012. In neither situation was there any discussion of intervention by Gov. Jerry Brown, a Democrat, or any consideration of bailouts for the two cities.
Since the winter semester has ended I’ve finally had the time to read “Detroit: An American Autopsy” by Charlie LeDuff, published in February.
Last fall semester I wrote a column titled “Blacks loyal to corrupt candidates.” Even more unfortunate than the headline was my exposition.
We are all Homo sapiens, but for many economic theories and models we are also Homo economicus—the perfect economic men and women. All of our decisions with money are rational and we shop and sell with complete efficiency—or at least that is the theory.
The Mercatus Center, a conservative think-tank located at George Mason University, recently released its 2013 Freedom in the 50 States study.
The U.S. federal government is approximately $16.8 trillion in debt, according to the Department of the Treasury.
Hurricane Katrina wiped out New Orleans in 2005; it eradicated the physical and political infrastructure of the city. This is why when Mitch Landrieu, brother of Sen. Mary Landrieu, was elected as mayor of New Orleans in 2010, he was able to remake the city.
“My dad killed himself,” said Senate Majority Leader Harry Reid in an interview with George Stephanopoulos of ABC News.
There has been much debate over whether or not the Republican Party should reform, and if it does, what should be the result of that reform. New Hampshire and the Free State Project offer an example of a possible end result.
Chapter 9, or municipal bankruptcy, is the fate that awaits Michigan’s most populous city if Michigan Gov. Rick Snyder’s efforts to restructure the city fail.
Economic development in Detroit will take money the city doesn’t have.
In 1975, New York City suffered a financial crisis similar to the one Detroit is in now, and city leaders found themselves under the auspices of a state authority. An inordinate amount of municipal debt left the city unable to fund basic services and default appeared imminent.
Solutions by The State News
