- Obama takes aim at ‘corporate deserters’
- Dick’s Sporting Goods lays off 478 PGA golf pros
- Senators: Cease-fire must allow Israel to defend against rockets, tunnels
- Sierra Leone doctor fighting Ebola catches disease
- Iraq welcomes Russian fighter jets, helicopter gunships into ISIL fight
- John McCain laments: Obama’s ‘self-pity … is really kind of sad’
- GOP offer to fix VA gives $10 billion in emergency funds
- Paul Ryan offers to repair U.S. economic safety net with a single grant stream
- Kim Jong-un builds bond with Putin: $250M Russia-backed addition to key port opens
- Pope Francis meets Meriam Ibrahim, a Sudanese woman sentenced to death
FEULNER: It’s a bankruptcy, not a bailout
Question of the Day
It’s bad enough that a bailout would be patently unfair to taxpayers who aren’t at fault in Detroit’s failure to govern itself, but the city itself would learn nothing. The bad behavior that led it to this point would go uncorrected.
What would other cities that are dealing with some of the same fiscal problems conclude from seeing Washington step in to “rescue” Detroit? That the solution to their problems lies in putting their financial woes in Uncle Sam’s hands? What about union leaders across the country who already have been agitating for higher taxes?
The solution is not a bailout. It’s bankruptcy.
Ed Feulner is founder of the Heritage Foundation (heritage.org).
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