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Government solution to debt, more debt

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  • Government solution to debt, more debt

    Michigan Department of Treasury officials discussed with Hamtramck officials by phone this morning ways it can avoid bankruptcy.

    Hamtramck officials were given three options, including taking out an emergency loan for up to $3 million which could be paid back over 20 years; a tax anticipation loan which would allow the city to borrow up to half of whatever it anticipates collecting in property taxes next year, or going for a fiscal stabilization bond.
    http://www.freep.com/article/2010111...ells-Hamtramck
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    {
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    char Forrest, Jenny, Momma, LtDan;
    double Peas, Carrots;
    string MommaAlwaysSaid(const bool AddAnyTime = True)
    };

  • #2
    Well duh! Borrow more, pay some bills that take care of your buddies, declare bankruptcy and walk away from it all. That's the new American Way!

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