Video: Levin tells Detroit to forget a bailout
posted at 1:37 pm on July 24, 2013 by Ed Morrissey
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.