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With the federal government once again nearing the debt ceiling limit, the AFP reports, “The White House offered more than $300 million in aid and support to bankrupt Detroit.”
A statement released by the White House said, “The Obama administration is dedicated to ensuring that the federal government remains an active partner in bringing jobs back into the City, and turning the people of Detroit’s vision of the future into a reality.”
Obama claims the money being given to Detroit is not a bailout, and is committing to $150 Million for the Effective, Coordinated Demolition of Blighted Properties, Neighborhood Revitalization and Redevelopment in Detroit; $30 Million to Improve Public Safety, Reduce Crime, and Decrease Emergency Response Time; and $140 Million in Federal Funds for Improving Transportation Systems for City and Regional Residents.
Interestingly this announcement by the White House came less than a week after former-Speaker of the House Nancy Pelosi said “there's no
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