understand detroit is a precedent. the minute you step in to bailout detroit, you ll have every city line up with a tin cup. even this administration, even this administration is going to hold back from doing it. i m not saying we need to bail out detroit, not saying that s the right answer. we have to know problems in detroit are deeper than any party. i put the blame on obama for embracing austerity politics. in the 50s, 56% of jobs were in the city. by the 90s, 18%. we have had six decades of did i vestment. detroit as a city spent 100 million more than they were bringing in for nine years. that s not necessarily austerity. next up, national implications of a tight virginia governor s race that could have impact around the country. crash]