A half century ago the city of Detroit was booming with over two million people, and jobs were plentiful at automobile plants and those manufacturing products for cars. Yesterday the city of Detroit and its 750,000 inhabitants filed for bankruptcy. It has over eighteen billion in debts and can not pay the bills. Thousands of people are trapped in this insanity and will not be receiving their pensions or access to health care. Decades went by without any organized process of reinventing the city of Detroit and creating jobs for its inhabitants. The Federal government refused to provide funds for infrastructure work and outsourcing left those at home with low paying jobs. The United States lacked a national income that would provide a financial underpinning for those who needed income.
City income now requires spending 38 cents of a dollar collected to debt payment. The city lacks funds for education, for health and for investing in infrastructure work. What does Detroit need-also places like St. Louis
1. A base income for all inhabitants.
2. A fund for innovation, funds for infrastructure work.
3. Revamping of the educational system.