Remember when Obama boasted he wasn't going to let Detroit go bankrupt. Another example of decades of failed liberal policies. This is what happens when you run out of other peoples money.... and what is the ethnic make up of that city again.
**“I wasn’t going to let Detroit go bankrupt. Or Toledo go bankrupt. Or Lordstown go bankrupt. I bet on American workers,” Obama said in the final sprint to November’s election**
Remember When Obama Boasted He Wasn't Going to Let Detroit Go Bankrupt
When Detroit on Thursday became the largest U.S. city to file for bankruptcy, it punctured a major narrative that was key to President Obama’s re-election: that his auto bailout would help resuscitate the Motor City’s battered economy and inject life into an area unable to shake hard times.
Facing $18.5 billion in long-term debt, Detroit is now turning to the federal courts for help, hardly matching the rosy portrait painted by the president in recent months.
On the campaign trail, particularly in the Midwestern states dependent on the auto sector, Obama trumpeted his cash infusion to major American car companies as part of his populist pitch to blue-collar voters.
“I wasn’t going to let Detroit go bankrupt. Or Toledo go bankrupt. Or Lordstown go bankrupt. I bet on American workers,” Obama said in the final sprint to November’s election.
On October 13, 2012, President Obama boasted to Americans in his weekly address that he refused to “let Detroit go bankrupt.”
“[W]e refused to throw in the towel and do nothing,” Obama 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.”
Of course Obama was referring to the auto industry – alluding to Mitt Romney’s unfortunate New York Times op-ed headline from 2008.