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Sometimes collapse and reorganization of the economy is inevitable. Attempting to prop it up with free money only delays the collapse and probably will end up making it worse.
And foreclosure = homeless? Quit being so melodramatic. Detroit is probably no different than most places -- you'll be able to live in your home rent free while the foreclosure action languishes in the overworked (and underappreciated) court system. And after that, there are a plethora of rental properties and dirt cheap foreclosures out there--probably even stuff available to folks with questionable credit.
As far as aid now increasing our tax base in the future, I'm not sure how that works. I mean, if you lose all of your stuff and then have to buy all new stuff once you're employed again at an acceptable level, won't that economic activity actually create more taxable events than you sitting in your house drawing unemployment indefinitely? I don't really see from a tax standpoint how society stands to gain anything at all by propping up an area or an economy which is going to simply collapse as soon as the support is withdrawn.
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SN -SINCE 1869-
"EXCELLING WITH HONOR"
S N E T T
Mu Tau 5, Central Oklahoma
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