Detroit and municipal bankruptcy Research Paper Example | Topics and Well Written Essays - 500 words

Detroit and municipal bankruptcy - Research Paper Example This essay seeks to elaborate on why Detroit should pursue bankruptcy. Detroit filling of bankruptcy can follow the city’s current existing population record. According to the census record taken in 2012, Detroit hosts a population of around 700,000 residents. This number stipulates that the city stand among the highest populated cities in the state of Michigan (Rattner 15). The high population implies that the city requires relatively higher resources compared to other cities to sustain the residents within the area. Filling for bankruptcy suffices as a good course because it enables the city to maximize on the available resources from tax exemption policies within the enacted act’s provision. The unemployment rate in Detroit has elevated to significantly alarming records. Since the year 2000, the unemployment rates have changed tremendously. The high unemployment rate is evident around the metropolitan areas where it has risen by over 10% of the national average. Unemployment rate factor is directly inversed to other factors like the homicide rates within the city considering that Detroit has the highest homicide rate and is among the most dangerous cities in the United States of America. The judicial state within the city raises the significance of filing for bankruptcy. In the year 2014, only 8.5% of cases commenced were solved. This number compared to the 30.5% of the cases solved nationwide indicating that the judicial system requires redress. The security system in Detroit also begs for the filling of bankruptcy. In Detroit city, the response to the police calls averages 56 minutes compared to the 11 minutes nationwide. The faulty security and policing system in Detroit are attributive to the lack of resources. The fire trucks and police trucks conditions neglect is evident in that they are old and cannot work efficiently. Nevertheless, just like other