Analysis Of The Article ' Detroit ' Bankruptcy Filing Sent A Cold Chill Down My Back

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Detroit’s bankruptcy filing sent a cold chill down my back as I read the article. Detroit is the largest city in the United States to file for bankruptcy ever. Although Detroit might be the largest city ever to file for bankruptcy, it is definitely not the only city to file for Chapter 9. Other cities that join Detroit on the Chapter 9 list would include Jefferson, AL; Stockton, CA; Harrisburg, PA; San Bernardino, CA; Mammoth Lakes, CA; Central Falls, RI and Boise County, ID. Between these eight broke cities Mammoth Lakes, Harrisburg and Boise County were amongst those that were dismissed. The “Chapter 9 list” of cities has racked up billions of dollars cumulatively in liabilities which has resulted in the citizens ' requests for relief …show more content…

It is the federal government’s duty to take action on behalf of the state and its people. History has shown us when the federal government does not take affirmative action and assure the people matters are in order; people become frantic, hence the 1920’s stock market crash. According to the Wall Street Journal, the federal government should not be held accountable for everything. In their views, the current level of expectation regarding the federal government is extremely unrealistic. It is only fair to agree with the Wall Street Journal. The people should realize that the federal government cannot supervise every aspect of government or the citizens or each individual. The federal government should not feel obligated nor should they provide funding to any cities to preserve them from going into bankruptcy. Unless the federal government is a direct contributor, the government should not be held responsible to bail out any city and I believe the idea alone is very detrimental to the current economy. At this very moment the United States total national deficit currently stands at $16,787,451,118,147. Opening the door for bailouts is comparable to opening Pandora’s Box, a very dangerous thing for our economy and for our children’s futures. I do expect the federal government to step in, formulate a plan, and seek ways to get the city out of debt;

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