Obama Commits at Least $320 Million in Aid For Detroit

Motor City is bankrupt

U.S. President Barack Obama is committing at least $320 million to revive bankrupt Detroit, primarily through grant and funding programs, to raze blighted buildings, hire police and firefighters and improve transit.

A delegation from Washington led by Attorney General Eric Holder, Housing and Urban Development Secretary Shaun Donovan and Transportation Secretary Anthony Foxx will meet with Michigan and city officials today.

Comments

[Sevo]

Where's Gerry Ford when you need him?

[sasob]

Nothing like throwing good money after bad. More swag for the crooks who run Detroit. Thanks, Obama.

[JWatts]

No, you got that wrong. This is a payoff for reliable Democratic voters.

[Bones]

In before the government shuts down. You have to admire this administrations arrogance coupled with epic stupidity. It's impressive.

[Derick @Teletrade]

That was need of the hour. The way incidents turned up in the dream city of Detroit is really painful In fact, I cannot think of the sheer calousness of the government to keep letting the empire fall for all these years. Why didn't government intervene when they knew the end result, which we are seeing now? However, blame game will not make the matter any better. So, welcoming this move of infusing $320 million in the Detroit economy. However, the proper allocation of the fund should be managed properly so that the funds are not misused.

Derick
Financial Consultant at http://teletrade-dj.it/