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November 14, 2008

Here We Go

"I want some too!"


WASHINGTON (AP) - Three big city mayors asked the federal government Friday to use a portion of the $700 billion financial bailout to assist struggling cities.

The mayors sought help with their pension costs, infrastructure investment and cash-flow problems stemming from the global financial crisis.

The mayors—Michael Nutter of Philadelphia, Shirley Franklin of Atlanta and Phil Gordon of Phoenix—made their request in a letter to Treasury Secretary Henry Paulson.

Nutter said cities are facing an economic crisis not seen since the Depression and need help just like financial institutions.

"I want to make sure that cities and metro areas are at the table, that their voices are being heard, that our challenges and problems are well understood, so that we can get relief," Nutter said.

President-elect Barack Obama has also called for some sort of aid to state and local governments so they don't have to raise taxes or lay off workers while the federal government is trying to revive the economy, but he hasn't proposed or endorsed a specific aid plan.

The Government that couldn't say "no."

Posted by Mr. Bingley at November 14, 2008 12:53 PM

Comments

How soon does the Robbing Peter To Pay Paul Act of 2009 take effect?

"some sort of aid to state and local governments so they don't have to raise taxes or lay off workers "

"SOME SORT" of aid? From where? Unicorn butts? The only place money COMES from in a system like this is taxes OR cutting spending. You can't not raise taxes or not lay off people AND still give aid.

This is crazy. A few weeks ago, someone was talking about wealth being like a pie that had to be cut up and passed around, and those of us who had "big" slices had to be ready to content ourselves with 'smaller" slices. Now they're acting as if there's some kind of Infinity Pie that keeps gushing money even when the economy's in the tank.

(Yeah, I just did a three-metaphor mix there. So sue me.)

Posted by: ricki at November 14, 2008 01:04 PM

Ye Olde Trough is bustling these days ... more than usual ... and THAT is saying something.

Posted by: Rob at November 14, 2008 02:54 PM

I'm still waiting for my handout...err...bailout.

Posted by: WunderKraut at November 14, 2008 02:58 PM

Where's my ride?

Posted by: Jim - PRS at November 14, 2008 03:16 PM

My grandkids will never believe it when I tell them that the United States was once a thriving, prosperous superpower; instead of a debtor nation begging China and Zimbabwe for food aid.

Posted by: Tainted Bill at November 14, 2008 03:27 PM

And to think 233 years ago we fought against the most powerful empire of the time for freedom and now we're a nation of beggars willing to roll over and play dead for a few coins. OUR coins taken from us by a body of robber barons.

Posted by: Gunslinger at November 14, 2008 06:03 PM

Great, a $100 bill will worth less than a roll of toilet paper.

Posted by: The_Real_JeffS at November 14, 2008 07:24 PM

I am so annoyed with Nutter's big fat mouth right now. This is the same guy who closed city libraries and pools even though the city footed a great deal of the bill for the Phillies parade and claims profits were made. What?

Posted by: Kate P at November 14, 2008 08:58 PM

I'm slightly amused, within his first year in office he's going to outspend the Iraq war on bullshit programs at home. Taxing the shit out of us in the process to attempt to do it.

Posted by: Ebola at November 14, 2008 09:29 PM

Could there be any more appropriate name for the mayor of Philadelphia than "Nutter"?

Well, any more appropriate name fit for a family newspaper?

Posted by: nightfly at November 15, 2008 08:50 AM

It all could've been stopped. On the day Lehman was allowed to fail, it seemed for one brief second that a line had been drawn. But the next day the floodgates were opened. The thing about moral hazard is that once you concede that ANYONE should get a "bailout," there's no logical place to stop.

Posted by: Dave J at November 15, 2008 11:17 AM

Y'all just STFU 'til I get mah check cashed. Yer bellyachin' could innafeeyah wit mah plans for mah own pussonal bail-out 'n I wouldn't take kindly tuh it, no suh.

Posted by: panhandle cooter at November 15, 2008 07:37 PM

Notice they only want to bail out the urban areas?

Excuse me gentlemen, but if you want to eat, you might want to at least consider the REST of the country? Yanno, the ones you want to TAX to death? You may succeed. Stalin did. He only managed to kill about 5-10 million with a famine. I'm sure you could do better.

Posted by: Kathy K at November 15, 2008 07:40 PM

Hmmm - that might need clarification. I'm not for bailout for ANY sector. We need a correction, no matter how painful.

Posted by: Kathy Kinsley at November 15, 2008 07:43 PM

zSpVug

Posted by: Ddfwpmtv at July 14, 2009 03:23 AM

zSpVug

Posted by: Ddfwpmtv at July 14, 2009 03:24 AM