Green Room

Video: Levin tells Detroit to forget a bailout

posted at 1:37 pm on July 24, 2013 by

That would be the Democratic Senator from Michigan Carl Levin telling a little hard truth to the voters in his beleaguered back yard. Bloomberg asked Levin about the possibilities for Congress authorizing a bailout for Detroit, and Levin makes it clear the odds are at exactly zero:

Lawmakers in Congress are dismissing the possibility of a federal bailout for Detroit, the largest U.S. city to declare bankruptcy.

Even Michigan Senator Carl Levin, a Democrat and former Detroit councilman, says the city should instead search “every single federal program available” for help.

“Not new bailouts, but existing programs,” Levin said in an interview at the Capitol yesterday.

The bipartisan rejection of a bailout signals how little appetite there is for fresh spending in Washington as lawmakers anticipate another showdown over raising the U.S. debt limit this year. They don’t see much political benefit in propping up a city that has lost half of its population since 1970.

That’s not the main calculus here, though. The real reason Congress won’t do a bailout is because they can’t afford to set the precedent, as I explained in my column yesterday.

Recently in the Green Room:

Blowback

Note from Hot Air management: This section is for comments from Hot Air's community of registered readers. Please don't assume that Hot Air management agrees with or otherwise endorses any particular comment just because we let it stand. A reminder: Anyone who fails to comply with our terms of use may lose their posting privilege.

Trackbacks/Pings

Trackback URL

Comments

Levin’s a racist? Who knew?

Ward Cleaver on July 24, 2013 at 1:51 PM

this won’t play well on MSLSD

Shouldn’t John Dingle be able to call in his chits after carrying on for three generations in his seat serving north Detwa?

Forward thinking states would do well to isolate the state government from unfunded obligations their cities are running up. You listening Greg Abbott?

DanMan on July 24, 2013 at 1:59 PM

Stripping funding from responsible localities to give to Detroit.

This is just a bailout under another name.

blammm on July 24, 2013 at 2:11 PM

The real reason Congress won’t do a bailout is because they can’t afford to set the precedent, as I explained in my column yesterday.

California hardest hit.

rbj on July 24, 2013 at 2:29 PM

Video: Levin tells Detroit to forget a bailout

That would be the Democratic Senator from Michigan Carl Levin

Well, I knew it wasn’t Mark Levin. It wouldn’t be newsworthy to hear him say that to Detroit.

UltimateBob on July 24, 2013 at 3:07 PM

…the city should instead search “every single federal program available” for help…

Until cities figure out how to solve their pension obligations – tapping into “every single federal program” is going to accomplish nothing, but prolong the inevitable – at our expense.

Time to face reality.

Hill60 on July 24, 2013 at 3:09 PM

Well, they could dump all the Detroit City employees and retirees onto the Obamacare exchange. I’m sure that’ll help.

JimK on July 24, 2013 at 3:31 PM

They’re just stalling until they can figure out HOW to bail out Debtroit. Mind you, this city is “only” 20B in debt. I would support a bailout if, in trade, we could get Debtroit declared a “safe zone” from liberalism. Dismantle the entire political structure and let conservatives run the city as they see fit for 10 years.

SAMinVA on July 24, 2013 at 4:04 PM

Great article

api on August 19, 2013 at 1:10 PM