Detroit Avoids State Takeover

Thursday, April 05, 2012

Detroit Mayor Dave Bing (Bill Pugliano/Getty)

Detroit has had today’s date circled on its calendar for months. Under a state statute, today marks the deadline for Michigan Governor Rick Snyder to decide how to appropriately handle Detroit’s $200 million budget deficit. Detroit is mired in $12 billion in long term-liabilities and its been estimated that the city could run out of money as early as next month.

Disagreements over the proper response to the city’s near financial ruin abound. The Governor’s office, Detroit’s Mayor’s office, and the City Council have sparred for months over how to best handle the threat of looming financial insolvency.

Laura Weber, a reporter for WDET, updates us on the latest out of Detroit.

Guests:

Laura Weber

Produced by:

Marc Kilstein

Comments [1]

Fortunately for all enough pressure was brought to bear that this was finally able to get passed. Snyder and Bing both deserve credit for this and hopefully this will finally allow Detroit to get their finances in order.

Apr. 05 2012 09:42 AM

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