Sen. Rand Paul, R-Ky., signaled in a recent interview that he was not about to allow President Obama to give Detroit a bailout.
“I say over my dead body because we’re not going to bailout Detroit,” Paul said. “We don’t have the money. Who is going to bailout the United States if we bail out Detroit?”
Paul added that the best thing for Detroit was a “quick, abrupt bankruptcy and new management.”
“In bankruptcy — one of the advantages of bankruptcy is you get to wipe out your old debt,” he said. “And it is kind of a good thing, it isn’t really a harsh thing. We don’t put people in jail for debt anymore and we allow people to start a new life.”