Tuesday, April 6, 2010

Another city on the brink

Other governments face the consequences of population loss and high unemployment...and the State has no funds to offer either.

Report: Detroit bankruptcy looms without drastic change | detnews.com | The Detroit News:

Detroit -- Mayor Dave Bing and the City Council must reduce the size of government and slash the city's budget deficit to stave off bankruptcy or state receivership, according to a report released Monday.

Without draconian cuts and changes aimed at downsizing government, the city could end up with a 'possible' general fund deficit between $446 million and $466 million to its $1.6 billion budget.