It has finally happened; Detroit has filed for the largest municipal bankruptcy in United States history:
Detroit on Thursday became the largest city in U.S. history to file for bankruptcy, as the state-appointed emergency manager filed for Chapter 9 protection.
After decades upon decades of Liberal economic policies, Liberal planning and programs; after having the auto industry bailed out, Detroit has finally hit rock bottom. The City is a classic case as to why Liberal economic and social policies have never, and will never work in the real world. If anything, it is surprising that it has taken this long for them reach this point, but any Conservative or Libertarian could have told you this was coming. To quote Lawrence Reed, President of The Foundation for Economic Education:
Now that Detroit has filed for bankruptcy, will the conservatives and libertarians who have been in charge of the city for the last 50 years apologize for their failure? Oops, sorry, I just remembered that no conservative or libertarian has been in charge of anything in Detroit in my lifetime. However, I’m sure that those responsible will come forward.
Sarcasm noted Mr. Reed; Detroit should serve not only as a point of reference for the right, but as an object lesson to the left; that their favored economic polices just don’t work. Far from Detroit being Liberal policy gone wrong, it is actually Liberal policy gone right, because in reality, there was no other way this could have possibly gone; but sadly Mr. Reed is right in his sarcasm; that those to blame for Detroit will not take responsibility for their actions, and its a shame that thats the case.