Detroit’s Bankruptcy Marks the Tip of the Iceberg

Contrary to popular belief, recent and looming municipal bankruptcy filings were not caused by the recent “great recession.” Rather, they represent the inevitable demise of big-government, liberal policies promoted by self-interested politicians and the coercive public employee unions that support them. A federal bailout of Detroit would reward the very actions that led to the city’s demise and simply enable future fiscal mismanagement. Moreover, bailouts would also encourage other fiscally troubled state and local governments to continue their reckless ways.

If you think this isn’t Ontario’s fate think again.

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