Can Bankruptcy Save Detroit?
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Detroit, once America's fourth largest city, is a shadow of its former self and $18 billion in debt. Yesterday, it became the largest municipal bankruptcy in US history. Also, a new strategy for making the increased cost of college easier to pay for, and President Obama talks about the Trayvon Martin killing.
Banner image; A woman walks next to the abandoned Packard Motor Car Company building, that ceased production in the 1950's, in Detroit, Michigan. Photo: Rebecca Cook/Reuters
Detroit Becomes Biggest Municipal Bankruptcy in US History ()
Detroit, one of America's iconic cities — former capital of the auto industry and soul music's Motown Sound — has been in trouble for 60 years. Now, once America's fourth largest city -- with just 40% of its peak population, a shadow of its former self and $18 billion in debt — it is the biggest American city ever to declare bankruptcy. What will yesterday's action mean for residents, city workers and retirees? What more will it take for Detroit to get a "fresh start?"
- John Gallagher: Detroit Free Press, @JGallagherFreep
- Micheline Maynard: Forbes, @MickiMaynard
- Mike Cherney: Wall Street Journal
- Andrew Zago: Southern California Institute of Architecture
Oregon and the Cost of Higher Education: 'Pay It Forward' ()
Student borrowers now owe the federal government more than a trillion dollars, and college tuition is on the rise. The legislature in Oregon has adopted a new plan to help students cope with the increased costs of higher education. "Pay It Forward, Pay It Back" is not just for public colleges and universities, but for community colleges, too. It's a model first developed in Australia, reworked by the Economic Opportunity Institute, a think-tank in Seattle. We hear about the plan which students learn now for free and pay later from the earnings made possible by higher education.
- John Burbank: Economic Opportunity Institute, @eoionline
- Sara Goldrick-Rab: University of Wisconsin-Madison, @saragoldrickrab
- Jonathan Robe: Center for College Affordability and Productivity
Today's Talking Point
President Obama Breaks His Silence on the Trayvon Martin Case ()
President Obama stepped into the White House press room today to ruminate at length about the Trayvon Martin case and, the reaction of fellow African Americans and the state of race relations in the United States. Janet Langhart Cohen is president of Langhart Communications and author of the play, Anne and Emmett, an imaginary conversation between Anne Frank and Emmett Till.
Engage & Discuss
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