The national debt is about $17 trillion. School children still can’t take White House tours because they say there’s no money thanks to sequestration. Nancy Pelosi says federal spending can’t be cut because the “cupboard is bare.” Yet somehow the folks at the White House magically found millions of dollars to help out their pals in the bankrupt city of Detroit.
Nearly $300 million in aid for Detroit — from federal and state coffers, private businesses and charitable foundations — will be announced Friday as Obama administration officials visit the city to discuss what can be done to help eradicate blight, improve transportation, encourage new business and make residents safer.
The funding will include $150 million in blight eradication and community redevelopment, including $65 million in Community Development Block Grant funding — which had already been awarded over two years but could not be accessed by the city. An additional $25 million could help hire as many as 150 firefighters in the city.
Some $24 million in federal resources that had been tied up will go to repairing buses and installing security cameras, part of an overall $140-million investment in transit systems. (Read More)
Speaking for the White House, Gene Sperling told reporters that they “found significant resources that we believe can be unlocked and expedited and leveraged to have significant impact on the economy of Detroit.”
They’re finding money here, they’re losing money there. Someone needs to clean out those cupboards and see what else they can find.