Michigan’s Tough Nerd’s Over Clever Bailout Plan for Detroit

After swearing that there would be no bailout for Detroit,
Michigan Governor Rick Snyder, aka Tough Nerd, Detroitannounced, guess what yesterday? A

It doesn’t sound like a lot – only about $17 million every year
for 20 years – about a third of the annual subsidies that fat-cat
Hollywood producers receive from the state currently.  The
money will be given to the Detroit Instiute of Arts to give to
Detroit’s pensioners.

In return, public
would presumably have to forego litigation to extract
more money, allowing the city to exit bankruptcy ahead of November
when Snyder faces re-election. And Democrats would have to agree to
some longstanding item on the Republican wish list. (Some ideas
rumored to be under discussion include slashing the income tax or
converting the school pension system from a defined benefit to a
defined contribution plan.)

So what’s not to like?

You’ll have to read my Washington Examiner
this morning to find out.

from Hit & Run http://ift.tt/KUdLgw

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