Documentary Exposes Detroit’s Bankruptcy Story
We know Detroit is now bankrupt. While news cycles keep spinning the stories concerning the decaying state of the once most prosperous city in America and President Obama’s “Promise Zones” project, which would basically require more federal funding to back state-run projects to aid locals to navigate regulations in order to ‘rebrand’ their communities, little is spoken of the real issues that caused Detroit to fail in the first place.
We see it too often and we experience the consequences of it too often but fail to address the real evil for lack of vision, perhaps. What caused Detroit to decline to its current state was the central planning that was made possible by the marriage between Big Business and Big Government.
The documentary Bankrupt illustrates just how the inevitable decline of Detroit took place and why the city’s potential economical recovery was halted by the government’s decision to hand out billions of dollars to Detroit’s General Motors and Chrysler. Here’s the trailer:
What some of us hope Americans will learn from Detroit’s example is that when we allow the government to keep us dependent on its constant presence and interference, we also grant it carte blanche to ask for help where it can go for help: major corporations. To get its projects off the ground, governments need the power of big players. As a result, the marriage of big business and big government turns into a game with very few winners: a game that does nothing for the residents of the city.
Sen. Rand Paul (R-KY) recently introduced legislation that would do exactly what Detroit needs: get the government out of the way in order to create a business-friendly atmosphere for local business owners to have room to prosper. The bill would also make the city look good to outside investors, creating more opportunities for the people of Detroit.
The White House has now reached out to Sen. Rand Paul to discuss President Barack Obama’s Promise Zones project after Sen. Paul introduced his bill to help Detroit.