Current Event
Nia Edwards
Melanie Hickens wrote an article about the bankruptcy in Detroit, Michigan. On July 18, 2013 Detroit filed for a bankruptcy court protection. It's declining population for decades has left it to struggle wit high crime rates, taxes, and poor city service. The city is in a ton of debt. A judge has recently ruled that it is okay for the city to cut payments owed to employees, retires, investors, and other creditors. The plan was to take money that was owed to the people and use it toward the large debt. The people are very angered by this decision for that money is rightfully theirs.
I think that it is unfair for the judge to just agree to using the money that was worked hard for by employees to use in paying off the debt. Although it may seem like a good idea to take from everybody in order to fix the city but I believe that they should try to find a better way. Cutting into payments owed to employees, retires, investors, and other creditors is just cruel.
http://money.cnn.com/2013/12/03/news/economy/detroit-bankruptcy-ruling/index.html?hpt=hp_t2
Felicia Padilla 5th period: I agree, although it may seem as though it is for the good of more people, it is still negatively impacting the working people's lives.
ReplyDeleteI agree as well. Although Detroit has taken an extreme economic downturn, I do believe they should reward people who work hard for their money, and come up with a new solution for those who have fallen on hard times.
ReplyDeleteI completely agree with Mckay. It's not fair for hardworking people who have earned their wages to suffer to try and help people who are worse off then they are. This 'balancing' approach will have a negative impact on everyone and make the standard of living even lower.
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