President Obama went on television and before a nationwide audience said:
"We refused to let Detroit go Bankrupt. I bet on American Workers and American Ingenuity and three years later that bet is paying off in a big way."
I would too bet on American Workers and American Ingenuity but when you have the bumbling and inept Obama Administration screwing things up then all bets are off.
A federal judge ruled yesterday that Detroit can use bankruptcy to cut employee pensions and relieve itself of $18 Billion in debt, handing a defeat to the city's unions and retirees. Creditors might get 16 cents on every dollar of debt they hold.
Another Obama Success Story. What a klutz. They man truly does not know what he is doing.