Sense on Cents

The Wall Street Journal writes today that there should be no federal bailout of Detroit.

The AFL-CIO and its friends are mourning Detroit as a victim of capitalism, claiming the government has a moral obligation to rescue the bankrupt city. This is a nice political fable, but the hard truth is that Motown is a victim of its own political vices and a bailout would merely forestall the necessary rehab.

For lots of informative details adding up to a whole lot of sense on cents:

Saving Detroit from Itself

LD

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