by ROBERT FANTINA
As Detroit, Michigan grapples with bankruptcy, requiring at least $1 billion in aid, it is probably not alone. “More U.S. cities could be heading towards bankruptcy”, said Richard Ravitch, a former Lieutenant-Governor of New York, who was instrumental in helping New York City navigate through its financial woes in the 1970s.
So with Detroit, once the world leader in automobile manufacturing, now on its deathbed, and other major U.S. cities selling off their buildings to pay current expenses, it may be informative to look at how the Federal government is spending U.S tax dollars.
Half a planet away is the glittering city of Tel Aviv. One wonders why that city can be so successful, while U.S. cities are dying. Could it be the $9 million dollars the U.S. gives to Israel, every single day of the year, more in foreign aid than the United States give to all other countries combined?
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