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Young and Naive: Obama 2012 ‘We refused to let Detroit go bankrupt’

detroitby Patrick Kane
Clash Daily Guest Contributor

Last week the city of Detroit affirmed the age old aphorism, that the problem with socialism is that eventually you run out of other people’s money. With a runaway budget, crippling unemployment rates, and it’s lack of regard for basic economic laws, Detriot is the epitome of a liberal state and now what Austrian Economists have predicted for years is coming to fruition.

Watch this now classic video of an arrogant Barack Obama praising himself and his administration for not letting Detroit go bankrupt during his 2012 election campaign.

Image: Courtesy of The Examiner and Youtube.

P KanePatrick is a political activist based out of Boulder Colorado. He is currently employed by several of Colorado’s preeminent think tanks and has worked in the liberty movement since he was fourteen. An aspiring writer, Patrick currently writes for Girls Just Want To Have Guns and Complete Colorado Page Two.