As the Chicks on the Right mention…
Detroit maintains 13,000 government workers but has 22,000 government retirees burrowed into the body politic, and their health-care subsidies alone account for nearly $200 million of the city’s budget. Pensions alone already account for a quarter of city spending; in three years, they will account for half. Pensions and city workers’ health-care subsidies account for $561 per year from every resident of Detroit, which has a very poor population — average monthly income of barely $1,200 before taxes, a fifth of the population in poverty, etc. The official unemployment rate is 30 percent; the real rate is much higher.
But never mind all that. The answer to EVERYTHING for MHP and all her little commie friends at MSNBC is government, government, government, dontchaknow. If Detroit JUST would’ve had more GOVERNMENT and more spending….then it would’ve been fine, minions
Gay Patriot brought my attention to a failed prophecy of Obama’s wonderful handle on economics 101.
As Michael Barone reported yesterday in the Washington Examiner:
National Journal’s Major Garrett has an excellent column today looking back on President Obama’s 2011 Labor Day speech in Detroit. “This is a city that has been to heck and back,” Obama said then. “And while there are still a lot of challenges here, I see a city that’s coming back.” Noting that Obama cited the “advanced battery industry taking root here in Michigan,” Garrett points out that the battery firm in question, A123 Systems, received $249 million in Energy Department grants–and is now bankrupt. And of course so is the city of Detroit.
In matters economical, this man’s powers of prognostication aren’t particularly strong.
Moonbat points out — of course — that the “official” numbers from the White House, even if true, are REAL BAD!
Barack Hussein Obama set out to be a transformative president. He has already succeeded. Presidential spokesliar Jay Carney recently credited the Regime with creating 7.2 million private sector jobs. Even if that preposterous boast were true, it would hardly put a dent in Obama’s legacy:
Since February of 2009, the first full month of Obama’s presidency, 9.5 million Americans have dropped out of the labor force. Nearly 90 million Americans are not working today!
That means that 1.3 Americans have dropped out of the labor force for every one job the administration claims to have created.
There are 15 million more Americans on food stamps today than when Obama assumed office. …
That means that more than two Americans have been added to the food stamp rolls for every one job the administration says it has created.
If we were to take how many jobs the Regime actually has created — limited mainly to the overstaffing of the largely useless federal bureaucracy — and subtract from it the number of jobs it has destroyed through ObamaCare and excessive taxation and regulation in general, the number of new jobs for which Obama deserves credit would be millions in the negative.