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Obama, 2012: “I Refused to Let Detroit Go Bankrupt.”

Written by Gary North on July 22, 2013

That sounded great in 2912. It doesn’t sound great this year.

Obama bailed out the auto companies, as he bragged, but that did not save Detroit.

Nothing saved Detroit. Detroit died of politically self-inflicted wounds. It was the welfare state model of America. It therefore went belly-up.

Obama kicked the can. The can is now too large to be kicked.

Obama has been quiet about Detroit’s bankruptcy. Given what he said in October 2012, this is a wise policy.

He will not get a bailout from the House of Representatives. House Republicans are not in the habit of bailing out Democrat-controlled cities.

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15 thoughts on “Obama, 2012: “I Refused to Let Detroit Go Bankrupt.”

  1. "If I had a city, it would look like Detroit" – POTUS*

    *stolen from another post at Takimag.com

  2. "That sounded great in 2912. It doesn’t sound great this year."

    "2912?" Wow, where has the time gone!? I must be almost 1000 years old now, God help me. 😉

  3. dntmkmecomoverther says:

    Between the greedy UAW union and the corrupt Democrap machine, Detroit's citizens are now reaping the crop sewn in the 70s and 80s. It's sad, but oh, so very very predictable. That wall they hit called 'bankrupt' was visible the whole time as they headed toward it at high speed. It's hard to feel sorry for such ineptness and greed (accompanied by rampant stupidity).

  4. Elections have consequences. Detroit is just the 1st of several cities heading down a similar path. Wake up, people! Governments and unions are NOT your friends!

  5. I think Pres. Obama has a reverse "Midas Touch".

  6. PatrioTom says:

    Detroit………a perfect model for the very short-term future of America under progressive communist leadership!
    Every patriot must see the documentary "Disinformation" available at Amazon. This incredible film exposes the cancer that has destroyed cities like Detroit and is on the verge of killing America!! Buy it, view it…..view it again and pass it on to a fellow patriot to follow suit.

  7. PatrioTom says:

    Love it!! The "creepy-ass mulatto" has gotta go!!

  8. WhiteFalcon says:

    Ovomit said that he would not allow GM and Chrysler to go bankrupt, so he bailed them out and what happened? They went bankrupt anyway, but since they had gotten on the Government tit, now they were at the Government's mercy and they were forced to do things that they did not want to do, stock and bond holders were screwed and they lost everything, many car dealerships that didn't support Ovomit were closed and neither GM nor Chrysler are on sound financial footing today. Ford refused to get on the Government tit and are now in far better financial shape than GM or Chrysler. GM claimed that they paid back their bail out money, but they did it with TARP funds, so that really doesn't sound. I don't have any idea of how much Chrysler has paid back.

  9. You are Right On, these municipal workers and union thugs have been stealing from the people for Decades! Their pay is always MUCH more and most do less for it! Of course Detroit has been ruled by LIB DEM CROOKS for Years and the IDIOTS keep voting them back in!! The only ones i feel sorry for are 25% of the kids in Detroit are Hungry because of their IDIOT parents who voted these LIB DEMS in office!!!!

  10. I think that the can Obama kicked is now a 50-gallon drum filled with cement.

  11. Just like Ringo's Law postulates: "Everything government touches turns to crap."

  12. "That wall they hit called 'bankrupt' was visible the whole time as they headed toward it at high speed."
    Great line, I love it! And so true.

  13. cbanalyst says:

    I'm waiting for some fool to try to blame Bush for Detroit. The voters let Obama get away with it for the last 5 years, even a few weeks ago I heard his name mentioned as a cause. At some point the absolute reality of the effects of Liberal gvt will unescapably have to surface. Even now my city, and state, (run by Democrats) continues down the track to destruction, either, as the voters are, oblivious to the effects of their policies or mentally unable to comprehend their consequences.

  14. Dave Peddle says:


    Detroit is merely an accounting SWINDLE. All future Pension Obligations expensed for 30 yrs. in the future and calculated as present DEBT (payable) and due this year. That's the FUDGING that is taking place. All Hookum – slight of hand.
    Not only that but assets bought and paid for and carried on the books in Detroits Annual Financial Report have not been reported as to their current asset value. (replacement costs)
    So if a FIRE-SALE (bankruptcy) was allowed to take place, the bidders would be bidding against deflated prices. (lookl at the leverage)
    This bankruptcy, if allowed to proceed, merely is to the advantage of the already filthy rich. It is orchestrated by them, behind the sceens, pulling the strings.

  15. Also note that the workers that work for private enterprise has to work harder to pay for these government workers holidays. They get more holidays than private industry, and they don't work as hard as we do. Ever walk into a government office and see how casual and relaxed they are? In private industry you run, rush, miss your break, eat your lunch at your desk because the customer comes first. I should have gotten a job with the government…then I'd be more relaxed and with a bigger paycheck and a fat pension instead of a lousy social security check that they don't want to give you a cost of living increase of a few dollars. Politicians have it made with all that big bucks and time off.