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A new report says declining revenues and bad Wall Street deals—not out-of-control spending or generous pension benefits--contributed the most to Detroit’s bankruptcy.
There's been a lot of debate lately about whether Americans are starting to favor cities over suburbs in significant numbers. Every city I visit -- most recently, Lincoln, Nebraska -- I see new housing going up in downtown areas, and it's said that Millennials prefer the walkability and diversity of urban life.
(NEW YORK) – Today, the Senate voted to put an end to one aspect of Washington’s gridlock by changing the rules governing the use of the filibuster for executive-branch appointees and most judicial nominations. Senate Republicans most recently filibustered three qualified judicial nominations to the bench of the D.C. Circuit Court. Demos President Miles Rapoport issued the following statement:
The best policy measures are those that solve two or more problems at once. So consider this idea: Let's tackle Washington's revenue challenges through tax hikes that mainly hit suburbanites and incentivize urban living.
The need for more revenues is clear enough: federal taxes are near a 60-year low even as the Baby Boomers retire, China rises, infrastructure crumbles, and deficits stretch as far as the eye can see. Enough said on this point.
Be careful what you wish for is good advice, and I'll be the first to admit that progressives may rue the day they celebrated historic changes to the Senate's filibuster rules.
Like when President Paul Ryan is packing the courts with pro-life judges in 2023.
Detroit's debts are a fraction of the $18bn lawyers pushing for bankruptcy say they are, and their costs are "irrelevant, misleading and inflated," according to a report released Wednesday.