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Saturday, June 22, 2024
HomePosts Tagged "Detroit"

national debt

Happy U.S. Credit Rating Downgrade Day! Two years ago today, Standard & Poor’s downgraded the U.S. credit rating and, not surprisingly, it hasn’t recovered since. Despite 2012 campaign rhetoric and the liberal-media narrative, the downgrade occurred because the President and Congress failed to resolve the long-term spending and debt crisis. Within that time period, the President has failed to lead, hasn’t proposed any significant reforms, and the situation is even worse.

detroit bankruptcy

Contrary to the endless columns blaming the “model cities” initiative for the Detroit bankruptcy, in reality, secular progressives manufactured the conditions that could only have led to this bankruptcy long before the idea was ever conceived. To be sure, the “model cities” initiative accelerated and exacerbated the failures of progressivism in Detroit, and is a real-life manifestation of the failures of theoretical progressivism, but something much more fundamental and sinister has been at play for over a hundred years.

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