Detroit Has Higher Homicide Rate Than Colombia, Gets Less Aid From Fed

[bobandtorey]

DETROIT, MI - Detroit’s homicide rate is higher than the country of Colombia’s, but the city will get less than half the proposed federal aid that the South American country will next year.

That’s according to a report in Bloomberg, titled “Bankrupt Detroit Receives Less U.S. Aid Than Colombia,” which says that the U.S. federal government has proposed $323 million in aid to Colombia next year. Detroit would get about $108.2 million, the largest chunk of which comes in a $33 million Community Development Block Grant. Detroit police are slated to get about $2 million.

Colombia's homicide rate was 32 victims per 100,000 residents; Detroit's rate was 58 victims per 100,000 people.

Read the full report: 

Bankrupt Detroit Receives Less U.S. Aid Than Colombia

In contrasting the American city with the Latin American country, Bloomberg also notes the rift between politicians on the subject of bailing out municipalities.

Rep. Dan Kildee (D - Flint) told Bloomberg that large automakers and banks were bailed out by the federal government because their collapse could damage the economy, but cities that are steeped in debt pose a similar risk.

But the bailouts in 2008 and 2009 of large financial institutions such as Bank of America, which got $142.2 billion in federal aid, and Citigroup, which got $280 billion, have been seen as bailing out sophisticated Wall Street investors rather than the economy as a whole. That has left politicians wary of pulling the trigger on similar help, regardless of the recipient.

The last time a major American city was bailed out by the federal government was in 1975, when Pres. Gerald R. Ford signed the New York City Seasonal Financing Act, which gave New York City $9.5 billion.

As it stands, cities’ budgets are not heavily tied to money for the federal government. In 2011, just 5 percent of local government’s revenues came from federal sources, Bloomberg says, citing Census Bureau figures.

Federal money made much bigger chunk of states’s revenues at 35 percent. 
Federal aid to cities peaked with the Lyndon Johnson administration, and has steadily fallen since the 1970s, Bloomberg says, quoting a Brookings Institution report.

Here is a useful timeline of federal bailouts dating back to 1970, from ProPublica:
Industry/Corporation - Year - Size in 2008 U.S. dollars
●Penn Central - 1970 - $3.2 billion
●Lockheed - 1971 - $1.4 billion
●Franklin National Bank - 1974 - $7.8 billion
●New York City - 1975 - $9.4 billion
●Chrysler - 1980 - $4.0 billion
●Continental Illinois National Bank and Trust Company - 1984 - $9.5 billion
●Savings & Loan - 1989 - $293.3 billion
●Airline Industry - 2001 - $18.6 billion
●Bear Stearns - 2008 - $30 billion
●Fannie Mae / Freddie Mac - 2008 - $400 billion
●American International Group (A.I.G.) - 2008 - $180 billion
●Auto Industry - 2008 - $25 billion
●Troubled Asset Relief Program - 2008 - $700 billion
●Citigroup - 2008 - $280 billion
●Bank of America - 2009 - $142.2 billion

 

http://www.mlive.com/business/detroit/index.ssf/2013/07/report_detroit_has_higher_homi.html

[pic book]

This article shows who your friends are not.

[solabeirtan]

Thats right that's OUR Tax Money ! Hope they appreciate it, ha... ?

[Chauncy Gardner]

This really highlights the priorities of our "friends" in Washington D.C. They give 30 billion to 1 (one!) Wall Street firm (Bear Stearns) which has (I am guessing) 1000 employees? Yet they (Republicans) are screaming and tearing their hair out over the prospect of giving Detroit, a city of 700,000, less than 1/2 of what Bear Stearns got. And Bear Stearns got only a fraction of the money that Wall Street as a whole (a large financial hole) received.

 

And we even question whether or not Detroit deserves a bailout? Are you kidding? Wall Street hoodwinks America, gets billions in aid, and then walks away counting their "bonus" money.

 

And the fknRepublicans still refuse to allow a Consumer Protection Agency to do its job. They block all attempts to reign in corporate malfeasance and influence peddling, and people still vote for these effin a-holes? Wake the ef up!!!

[solabeirtan]

you didn't get the news they're now part of America. That's what it was all about. That's why we call it Washington, DC as in District of Columbia! in Washington! Think it was back in the beginning  of the Colld War, maybe before that . Yeah think the cold war ended in Vietnam. Also thought we won. Shoulda stayed over there. 

 

  Dya hear about the recent EuroFreeeTrader deal?  We spun off Guatemala, Nicaragua, and Panama for whatever f reason....clean slates what im thinknin...  

[Dr. Bob]

You know if they gave $20k to every man, woman and child in America, think about what kind of impact that would have on the economy.

 

Dr. Bob