Does Barack Obama owe the City of Detroit a bailout? One city councilwoman seems to think so. Via MyFoxDetroit : The city of Detroit faces a major financial crisis and one member of city council thinks President Barack Obama should step in and help. City Council member JoAnn Watson said Tuesday the citizens support of Obama in last month’s election was enough reason for the president to bailout the struggling the city. “Our people in an overwhelming way supported the re-election of this president and there ought to be a quid pro quo and you ought to exercise leadership on that,” said Watson. “Of course, not just that, but why not?” Nearly 75 percent of Wayne County voters pulled the lever for Obama in November. “After the election of Jimmy Carter, the honorable Coleman Alexander Young, he went to Washington, D.C. He came home with some bacon,” said Watson. “That’s what you do.” Young served as Detroit’s mayor for 20 years and served as vice chairman of the Democratic National Committee from 1977 to 1981. The White House has expressed no plans to bailout the cash-crunched city that some experts say could run out of money by the end of the year. The federal government has bailed out cities in the past, however. In 1975, President Gerald Ford extended more than $2 billion in credit to New York City to help it avoid a financial collapse. What do you think President Obama should do? If he bails out Detroit, where does it end?
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Quote Of The Day: Detroit Councilwoman Tells President Obama “We Voted For You… Now Bail Us Out!!!” As City Heads Toward Bankruptcy
