Detroit might be the canary in America’s proverbial coal mine.
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How bad is Detroit’s budget crisis? Do the math.
It’s the crime, stupid. My Politics colleague, James Dickson, is worked up today and for good reason. Detroit, The Murder Capital, is a back – yet you wouldn’t know it from media coverage.
Bing has a fiscal plan, sort of like you could say that I have a plan to buy the Tigers, which I’m guessing would cost me about $1 billion.
A Detroit Financial Review Team has said that Detroit has no satisfactory plan for restructuring to prevent insolvency. The same might be said of Barack Obama’s federal budget.
Detroit faces the reality of an emergency financial manager (EM). The Detroit Financial Review Team (pdf) has determined that a fiscal emergency exists in the City of Detroit. Problem is, there really isn’t an emergency manager law in effect, per the repeal of PA 4 of 2011.
America, meet Detroit. On the same day that the Detroit Financial Review Team declared Detroit in fiscal crisis, President Barack Obama stepped to the microphones to demagogue ANY federal budget cuts as a threat to public safety and the American economy.
Gov. Rick Snyder won’t get his review team’s report on Detroit’s finances until Tuesday, so until then we can all continue playing the game by which it’s inappropriate to comment since we don’t know the results and whatever. Then again, let’s be inappropriate. We already know the city has a $326 million accumulated deficit. We … Continue Reading →
Tune in at 10 AM Sunday to watch Detroit News Politics contributor Bill Johnson on WDIV-Channel 4′s”Flashpoint,” hosted by Devin Scillian. Bill joins in a roundtable of analysts to discuss Detroit’s future in the wake of Mayor Bing’s State of the City address last week. Other panelists: Daniel Howes, columnist for the Detroit News; Bankole … Continue Reading →