United Front Against Austerity
April 29, 2014
Benton Harbor, MI’s tax base was destroyed by
NAFTA and other free trade agreements that shipped thousands of good
jobs to Mexico and other low-wage countries.
Today, the city’s fiscal
woes are exactly equal to the interest payments owed to financiers.
Consider the following findings of a January 2013 audit, reported by
Read the report at http://bit.ly/QS4BDX
We find that:
1) The city’s deficit is growing by $700k/yr
This is money owed to the school district, county, municipal employees, subcontractors, etc.
2) Meanwhile, The City Owes exactly $700k/yr
in Debt Service (interest payments) to pay for $14m in upgrades to its water treatment plant made in 2011
Read that again!
The so-called financial mismanagement of Benton Harbor is an exact
measure of the burden of usury.
Benton Harbor’s 10,000+ black residents
committed the crime of investing in clean drinking water. Now Wall
Street wants its pound of flesh – by cutting public employee jobs and
benefits, by privatizing public schools, and by giving away land, public
property and tax abatements to corporations.
This is the very
essence of fascism – Wall Street created the disaster, now it has
instituted dictatorial rule, forced Benton Harbor into usury, and is
asset-stripping the rightful owners (the public) of their property!
The United Front Against Austerity supports Rev. Edward Pinkney, and
demands long-term, interest-free debt refinancing by the U.S. Federal
The Fed bailed out Wall Street speculators in their
hour of need. Now it’s time they bail out the American people!
Harbor must demand a moratorium (freeze) on its debts until the Federal
Reserve agrees to refinance its municipal debts at 0% interest, and a
To understand how to make this work, read more about nationalizing the Fed at: http://againstausterity.org/fed