Detroiters pay too much for economic development deals


Detroit was once the richest city in the world. Cronyism has turned it into perhaps the poorest large city (it used to be much larger) in the USA.

(From The Detroit News)

The fundamental problem we face in our efforts to create jobs and economic prosperity isn’t with any one deal, developer, city or state. It’s with the entire model that allows politicians to incur huge debts and make massive promises that last long after they’ll be out of office, while concealing the true costs from their constituents.

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