As a kid I learned lessons the hard way, the school of hard knocks is a rough way to go, so I tried not to make those mistakes again. And I taught my kids what I learned to hopefully keep them from having to go through what I went through. It seems as though Washington DC and the Obama administration have not looked at lessons learned. They choose to ignore them, even as the City of Detroit gives them a blueprint of what not to do, they press on towards the destruction of the country. Sad but true.

The biggest problem with the city of Detroit is that they are not solving any of their problems. They are keeping high tax rates and are continuing to spend more money than they take in. Taxes need to be cut and government needs to be reduced in size and made more efficient. The city should encourage responsibility. Instead of throwing money at all of its problems, Detroit needs better leadership. Corrupt politicians have failed the city for years. It needs its councilmen to step up to the plate and solve its problems.

A federal bailout wouldn’t be the kind of help Detroit really needs. It would take money from taxpaying citizens and then give it to the most fiscally irresponsible city in the country. It would also encourage the same tax and spend policies that Detroit has used in its past. The heavy spending Keynesian policies Detroit used made the city collapse. Detroit could recover quickly, if they reversed their harmful and irresponsible fiscal policies. The bankruptcy of Detroit is a warning to the rest of America. If you don’t keep up with your finances, they will eventually catch up to you.

 

Sound familiar?