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National Debt

Detroit. Bankrupt. - By: Rich Galen

  • August 05, 2013

    Rich Galen over at Mullings.com has a great post on the failures of Detroit. On July 19th, the City of Detroit filed for bankruptcy. As Rich points out, "It owes as much as $20 billion and there is no conceivable way that debt will ever be paid. The city offered its debtors 10 cents on the dollar but the debtors refused." You can read more about what lead to the once grand Motor City sliding into Bankruptcy City over at Rich's website: http://www.mullings.com/07-19-13.htm


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