Backdoor Bailout for Detroit, War on Business: Welcome to Obama’s “Remade” America

When Barack Obama said, on October 31, 2008, that  “[w]e are five days away from fundamentally transforming the United States of America,” he wasn’t kidding. The “fundamental” transformation he envisioned, and has been implementing is designed to redress the sins of racist Amerika by redistributing the wealth and income of those who benefitted from this nation’s “unfairness,” confiscating it from them, who have more than they “need,” and giving it to those that King Barack knows are more deserving. Like those public officials in the corrupt, one-party hell, Detroit, where 47% of the people are functionally illiterate. Where better to funnel some government cash?

From the Liberal Death Star aka The New York Times:

Two months after Detroit became the largest city ever to file for bankruptcy, top Obama administration officials will be there on Friday to propose nearly $300 million in combined federal and private aid toward a Motown comeback — only a fraction of the billions the city owes and a reflection of the budget and political limits on President Obama.
This first major infusion from the federal government, which administration officials say will not be the last, would be used to help clear and redevelop blighted properties, improve transportation systems, bolster the police — especially around schools — and overhaul city management systems wrecked by years of poor administration and inadequate resources.

The package follows weeks of meetings in Detroit and at the White House between the administration team and local business, labor and philanthropic leaders on how best to pool existing resources. Final details are to be worked out in a two-hour meeting of the federal and local officials at Wayne State University, participants said. …

Congress, preoccupied with reducing federal deficits, has been all but silent about helping the birthplace of the auto industry and, some say, of the American middle class. The Republican-controlled House is hostile to any spending initiatives from Mr. Obama. In the Senate, two Southern Republicans separately and unsuccessfully proposed legislation intended to ban bailouts — Detroit leaders have not sought one — briefly churning the racial currents at play over a city where four out of five residents are black.

So with the chances that Congress would pass any legislation for Detroit “somewhere between zero and zero,” as an administration official put it, Mr. Obama has fallen back on what he can do through executive actions, with available money and tax credits, or through partnerships with local businesses and foundations.
The effort is similar to the way he has worked around Congress to create advanced manufacturing centers nationwide with federal and local support, provide broadband in every classroom, speed up infrastructure projects and try to reduce gun violence. …

In July, after Mr. Snyder authorized Detroit’s emergency manager to file for bankruptcy, Mr. Levin had aides identify federal programs that Detroit could tap — the fiscal equivalent of looking under sofa cushions for spare change. A result was a 20-page spreadsheet of potential grants for neighborhood stabilization; brownfield cleanup; highway, education and antigang programs; and more.

Mr. Levin shared the list with Mr. Sperling, who was charged by Mr. Obama with overseeing a working group of administration officials. They soon discovered many areas where city officials had “left money on the table” by not applying for available federal money correctly, or at all. Foundations and businesses promised matching money. By late Thursday, the tabulation for Friday was still inching upward.

“What is important is that this is not a one-time announcement,” Ms. Stabenow said. “This is the first step.”

First step? Of course, it is! Barack will see to that, Congress be damned AGAIN. And never mind that the federal government is also broke. Let the printing and borrowing go on!

Meanwhile, Obama’s war on business continues. USA Today reports that yesterday the feds raided the corporate HQ of Lumber Liquidators, allegedly for using illegal wood. At first I thought that this was another of Obama’s targeting his “enemies, but no. Lumber Liquidators’ CEO Tom Sullivan is a big donor to the democrats, and even hosted a fundraiser for Barack Obama just this past June, where they discussed “clean energy.” (As many of you recall, Gibson Guitar suffered a similar fate, actually being raided twice. The case was eventually settled after the federal government shook Gibson down for $350,000.)

Speaking of shakedowns, Eric Holder, hoping to secure his legacy as a hero of the Left,  has commenced a jihad against J.P. Morgan, seeking at least $11 billion to settle claims involving mortgage-backed securities, many of which were issued by Bear Sterns, which the federal government foisted on J.P. Morgan in 2008. Holder is looking for a scalp, and a huge high-profile raid on a Wall Street firm would be the perfect trophy.

So to recap, more of your money down another Democrat rathole, Detroit, by executive fiat, not Congressional action, and the war on private business rages on.

It’s not like I didn’t warn everyone.

The Teri O'Brien Show

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