Cash-Strapped Detroit Suspends Payment to Vendors

Wednesday, December 14, 2011

The city of Detroit has begun suspending payments to some of its vendors in order to be able to cover basic services and make payroll.  If the city is not able to resolve its budget crisis on its own, the state is likely to appoint an emergency manager to restructure the city and rescue it from bankruptcy. Moody's has put some of the city's municipal bonds on review for a downgrade.

Quinn Klinefelter is a reporter at WDET public radio in Detroit. He has been covering the city's budget troubles.

Guests:

Quinn Klinefelter

Produced by:

Shia Levitt

Comments [2]

Unregulated expansion. Detroit is modern proof you cannot have it without consequences. The city became this center for several industries and no one ever asked what happens when business dies off or attempt to shift to other industries. Societies need to determine when it's too much and divert businesses to other locations that can handle it instead of trying to eat it all up because of the tax revenues they bring. I think we all know there's never enough tax funds to feed a fat city.

At some point you have to stop eating. Anyone saying you can't cap or regulate economic growth is probably someone who can afford to move away when it all falls apart. Or they're just too dumb to know how this system operates.

Miami has tall, empty condos to illustrate the same effect in the real estate market. People here actually believed their 2 bed-1 bath, single family house could sell for $500,000.

Dec. 14 2011 11:06 AM
listener

Detroit has tragically become the showplace of progressive politics...or can we finally call it retrogressive.

Comparing the history of Detroit today to fifty years ago is like physically comparing the old East and West Berlin or the Miami and Havana and North and South Korea of today.

Is there any doubt that progressives and their warped values would do for the nation what they did for Detroit?

How ironic and Orwellian that it is called progressivism.

Dec. 14 2011 09:47 AM

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