US Cities Going Bankrupt In Economic Crisis

Like the PIIGS in Europe, here in the USA we've overspent on entitlement programs mainly. The social security system is a pyramid scheme, as is the financial system. We're overcrowded yet government wants a bigger and bigger population via immigration to keep the pyramid scheme afloat. Once people leave the system by retiring, job collapse, or a factory moves out of a town, the system stops being self-sustaining.

We have yet another idiot in office who's increased our national debt by 50% in just two years. We'll NEVER pay that off. The unsupportable and ill-conceived nationalized healthcare system will bury us further. The latest political show was about a payroll tax and whether it should be for two months or 12 months, tax we'd have to pay back when we file anyway. He attempted to make a show out of pulling military out of Iraq just to have enough military to deploy elsewhere (Jordan/Syria, and around Iraq).

Who's to blame for the economy? Everyone. The 1%, the 99%, the 2%, the 98%. The bankers, the politicians, the homeowners, the welfare cases, the retired conservative tea party members, and the young OWS communists demanding we tax more so they can work less.

reply to post by Dbriefed
I don't agree that we're all to blame. Not all of us lived so lavishly. Many of us drive cars until they fall apart. Some of us don't buy the latest and greatest instead we buy second hand clothes and manage quite well without an ipad, ipod etc. I don't know where your from but in our town this is the norm.

City administrators/employees enjoy the highest wage in the county while the average Joe works hard for minimum wage. Believe me our wages aren't high enough to do anything but live within our means. Because the city is so broke they're taking a closer look at the books and what they're finding is disgusting. Those greedy pigs took everything. They'll get a slap on the wrist, turn in their resignations and move on to another town. Some are actually getting severance pay!

It's easy to say we're all to blame but that's a generalization. It simply sounds good when your pointing at those left holding the bag. Maybe you think you know who's to blame but I'll tell you who will pay...the common worker who has to live in the failing infrastructure. It's our kids using public schools for what they're worth. It's all the communities who've been mismanaged and robbed. We are the ones who pay when drillers, loyal only to shareholders, contaminate our water. As if the drilling isn't bad enough city fat cats neglected the corrosive water pipes now bursting under our streets...absolutely nothing was sacred.

There is no work around for some of us, no place to flee to. We can't just jet off to another place seeking sustenance for a parasitic lifestyle. I'm sure they feel quite privileged and special it's life as usual for them. They must laugh and think it really does suck to be the rest of us. We had no part in the housing fiasco or all the excessive borrowing yet we will pay dearly.

reply to post by Dbriefed


personally during the mid 2000-2007 my family did not fall prey to the elites the governments plot to ruin the middle class, my husband and I bought no new house, car,televisions.. Nothing because I knew it would harm us in the end, we don't need a new car until our current vehicles being a 1999 & a 2000 trucks, they still run just fine. We bought our first home 2 years age after saving to put 35% down, the housing market was sliding we got a real good deal on a home made in 1997. Our mortgage is $467.00 a month, easy it will be payed off next year, all extra monthly income goes on our mortgage,point here many smart Americans didn't fall prey to THEM. Peace

True, there are a few responsible people out there, such as those that listen to Dave Ramsey. 'All' being a generalization as it would include people who participated in the system (used credit or benefited from those using credit) over the last 20 years.

The State of California is looking for anyone who profited from the housing collapse. I suppose that would include those who benefited from home appreciation when selling, since most of the money went to home sellers.

Cities were NEVER sustainable.


They were a means for smart people to rob dumb people.

America doesn't have it bad.....since China paved their entire country and made it a Super City.....

China is going to have it hard.

Americans have been fleeing the US cities since 1979.

Right now, they're trying damn hard to sweep this news under the carpet and keep diverting attention to Europe.

More than $15 Trillion in total debt! I cannot imagine the kind of shameless parasites the US government and bankers are.

Originally posted by wisdomnotemotion


More than $15 Trillion in total debt! I cannot imagine the kind of shameless parasites the US government and bankers are.

edit on 12/27/2011 by wisdomnotemotion because: typo

If the USA were not using the military to back the greenback, the US would be included with the PIIGS countries.

When , and it will happen, the US dollar falls as the World Reserve Currency.

American kids will on commericals with flys around their face begging for 17 dollars a month adoptions.

reply to post by Tw0Sides


"American kids will on commericals with flys around their face begging for 17 dollars a month adoptions. "
I can see this! but i'm sure the rich will still not give a damn.
something happened and people don't care about others anymore.
Just $17 a month will buy a set of nike air sneekers for this starving child

Originally posted by Pervius
Cities were NEVER sustainable.


They were a means for smart people to rob dumb people.

America doesn't have it bad.....since China paved their entire country and made it a Super City.....

China is going to have it hard.

Americans have been fleeing the US cities since 1979.

But, China is facing a massive property bubble implosion the likes of which we have never seen.

They've been building entire cities that are left empty. There is massive corruption in this too, and the people are finally starting to wake up to it and are protesting. Their homes are being demolished to make way for expensive apartment blocks that no one can afford to live in.

However, when there's a war (and I think we can all predict that there will be) China is in the best position to evacuate and protect its people. They could empty Beijing and move those people to hundreds of new cities, ready to go with all the infrastructure in place. Where would the population of London or New York go, temporary camps?

In addition, instead of bailing out banks who then hoarded the money, paid themselves more or extracted it to another country, all of that construction actually supported hundreds of thousands of workers, and the associated supply line.

They may be facing the collapse of a bubble, and there may have been massive corruption involved, but we're all facing similar challenges, and at least they have prepared themselves and supported their people more than the USA or any European nation has.

The city of Benton Harbor has an Emergency Manager in less than 2 years he's managed to turn the place around quite well. They were spending $80000 -$100000 a year in bad check fees alone. So like many other cities the money is there but nobody really pays attention just expecting a loan from the state. Thats what the so called leaders of Benton Harbor cure for their problems was just give us more money.