LOS ANGELES | On December 3rd, Detroit became the largest city to declare bankruptcy in American history. This case, which went on four months, protected the city from creditors. While some government officials blame Detroit's financial woes on a declining tax base, other observers say runaway spending was the main cause. The city had an estimate $18 billion in debt at the time bankruptcy was declared. The money paid out when the city was healthy did not produce significant results for the people of the Motor City. Over 40 percent of streetlights in Detroit do not work. There are also almost 80,000 abandoned buildings in the city. A judge ruled Detroit could cut pensions, in order to pay other creditors. This is raising a firestorm on controversy among those who were due to be paid. Observers are questioning who will pay the debt Detroit incurred before entering bankruptcy. Ellen Brown is a well-respected attorney, who writes for the Huffington Post. Brown is the author of 12 books, including The Web of Debt and The Public Banking Solution. Brown is our guest on the show today. LIVE: http://NextNewsNetwork.com Facebook: http://Facebook.com/NextNewsNet Twitter: http://Twitter.com/NextNewsNet Sub: http://NNN.is/the_new_media Meet the Next News Team: http://youtu.be/2QnNKwQ2WkY Hashtag: #N3 About: Next News Network's WHDT World News program airs daily at 6pm and 11pm Eastern on Comcast, DirecTV and Over-the-Air and Online at http://NNN.is/on-WHDT WHDT World News is available to 6 million viewers from South Beach to Sebastian, Florida and to 2 million viewers in Boston, Massachusetts via WHDN. WHDT broadcasts on RF channel 44 (virtual channel 9) from Palm City and is carried on cable TV channels 44 (SD) and 1044 (HD) by AT&T, on cable channels 17 (SD) and 438 (HD) in West Palm Beach by Comcast, on satellite channel 44 (SD) in West Palm Beach by DIRECTV, and on WHDN-Boston which broadcasts on RF channel 38 (virtual channel 6) from the Government Center district in downtown Boston. More about WHDT: http://en.wikipedia.org/wiki/WHDT
Lets Join forces and repost from each others blogs and earn money
No comments:
Post a Comment