On July 18, 2013 Detroit becomes the largest city in U.S. history to file bankruptcy with a $18 Billion debt. What does this mean for the City of Detroit and the State of Michigan? We can question whether the tactics of how we got here were ethical, but we are here now. For decades we have transferred the responsibly from one administration to the next and it couldn’t be pushed any further. So what is next?
Is Detroit the Blueprint for the Nation?
Five years ago during the financial crisis that started in 2008 (I am specifically referencing the bailouts between 2008-2009) in the United States when the unemployment rate reached 10% the highest it has been since 1982, people began to lose faith in big government and big corporations. Detroit was at the epicenter of this crisis with the automotive bailouts. People began looking to reduce their dependence on an industrial society that had outsourced everything except its spirit of innovation and creativity. But something more interesting took place. The media and the nation began to take notice at what was happening in Detroit. There has been plenty of conversation that Detroit could be the blueprint for ‘Re-Invention’ for other U.S. cities. This was prior to yesterday’s announcement about filing Chapter 9 bankruptcy which will only continue to fuel this conversation.
Photo Credit: Shawn Lee Studios