There is a saying in the U.S. that goes: Last one out of Detroit turn off the lights. This was certainly the sentiment when Detroit, Michigan became the poster-child for the 2008 financial crisis. With General Motors’ headquarters in downtown Detroit, the crash of the auto industry significantly impacted the city. They were hit with high unemployment, home foreclosures, and depopulation, both in terms of people and businesses. However, as a result of Obama’s controversial $80 billion dollar auto industry bailout both General Motors and Chrysler are reporting profits and Michigan’s unemployment level is at its lowest in three years. And there are more signs suggesting it’s not quite time to give up on this Midwest city.
by Sofia Murad