Today is 5 years in my house. Hurray for me. Now I just have to keep the Liberals from destroying it like they did Detroit.
Now on to the White Guilt Morons, The Republicans: In Pew’s 2012 National Survey of Latinos, 31% of immigrants who are not citizens or legal residents said they identify with the Democrats. Just 4% identify with Republicans, while 33% call themselves independent.
Among Hispanics who’d been here less than 10 years, 26% identify with Democrats vs. 9% with Republicans, a 17-point gap. But for those here longer than 20 years, it jumps to 54% for Democrats and 10% for Republicans — a 44-point spread! (IBD)
But you’re a racist if you don’t chase that 4%-10% while alienating your base, says the Democrat snake in the garden… 🙂
Hispanic voters voted 71% for Obama, 27% for Romney.
In the case of Detroit, that’s what’s needed, because nothing has been fiscally normal about that city since its long decline began in the 1960s.
The city’s failure to confront its fiscal reality is precisely what led to its dire straits in the first place.
A bailout may bandage over the derelict city’s $18 billion in debts, but it won’t change the fact that it’s still run by an emergency manager, has nonexistent city services, and contains abandoned houses and fallow land that make parts of the city literally look like a war zone.
Bailouts can’t help because these wounds were self-inflicted, not external.
The city’s top taxpayer, the auto industry, for starters failed to adapt to the global economy. Out-competed by the Japanese, it opted for protectionism instead of sharpening its competitive game.
As a result, jobs dried up, and the city lost 60% of its population, going from 1.8 million in 1950 to 702,000 in 2010. But instead of attracting new investment as more survival-oriented places do, Detroit maintained the fourth-highest rate of corporate taxation in the country, ensuring that investment stayed out.
In denial, it kept 10,000 city government workers on the payroll, boomtown strength. The Detroit News found the city had more employees per resident — 55 — than any city in the U.S. except San Francisco. (which is the Queen of Liberal bastions)
Its failure to downsize left it with unfunded pension debt of somewhere between $3.5 billion and $9 billion.
Layoffs, though hard for workers, would have freed them to find jobs in cities that could keep their promises, and would have helped Detroit. But politicians had absolutely no connection with reality to do it.
They seemed to believe money was in infinite supply.
Sound Familiar? Democrats anyone?
The federal bailout of the Detroit-based auto industry in 2008 went a long way toward making the city think it too would get a bailout if it wanted one.
The problem here is that there have been nearly 40 municipal bankruptcies since President Obama took office, with more to come. If Detroit gets a bailout, they’ll all line up for one. Yet bankruptcy’s chief virtue is that it forces cities, and the voters, to reconsider bad decisions, to change their behavior and focus on recovery.
This happened in New York in 1975, when President Ford shocked the city out of its complacency by telling it to “drop dead.” It got some aid eventually, but the net result was the 1977 election of Ed Koch, who governed as a fiscal conservative. That’s the kind of tough love Detroit needs right now — not another bailout.
But what we all need is a bailout from Liberal economics…