In July, Detroit entered bankruptcy with more than $18 billion in liabilities. Since then, Congress has stuck by its promise not to bail the city out. It’s a position that has lawmakers Dan Kildee, a Democratic Congressman from Flint, Michigan, infuriated.
During the recent financial crisis, the federal government spent more than $700 billion bailing out banks and the auto industry. So, he asks, why can’t it bail out Detroit? The Congressman feels that this isn’t just about the people of Detroit—that the stakes are bigger.