Skip to comments.Michigan Treasurer says Detroit to run out of money by May
Posted on 01/10/2012 6:25:40 PM PST by Clintonfatigued
The struggling U.S. city of Detroit is on track to run out of money in May instead of April after spending changes made by city officials, Michigan Treasurer Andy Dillon said on Tuesday.
Dillon addressed media following a two-and-a-half-hour meeting with a team that is looking at Detroit's financial picture and trying to assess whether the city needs an emergency manager to take over operations. It was the first time the 10-member team met since it was appointed last month.
He said Detroit's most urgent issue is figuring out how to arrest escalating retiree health care costs, and clean up a balance sheet laden in debt and interest costs. Detroit Mayor Dave Bing had earlier predicted it would run out of money in April if spending wasn't curbed.
"It's my understanding that April has been pushed back to May," Dillon said, noting that the mayor "needs concessions from labor to avoid running short of cash."
Dillon said the team met with a "sense of urgency...and there was also anger," because members of the team asked "how come we didn't know the numbers were this bad?'" he said.
(Excerpt) Read more at insightbb.com ...
Deeeeeee-troit ran out of money years ago. Smoke and mirrors and ripping off the taxpayers propped ‘em up.
If they need a new month, may I suggest calling it Thermidor, or perhaps Brumaire?
So they can last to May instead of April. This is hugh and warrants a lot of pats on the backs.
Same ol' same ol'. Typical lying 'rat bs. Just like obama--"we didn't know how bad it was." bs.
And in other news, Detroit still has money.
It still seems no good news seems to be coming from Michigan.
Money problems in a liberal democratic-party controlled paradise?
“..Deeeeeee-troit ran out of money years ago. Smoke and mirrors and ripping off the taxpayers propped em up...”
This thread must be satire :-) Since when did Mo-Town have any money to run out of?? Another fascist GM takeover and union payback needed?? Until America has a real American president again (been a while) that will reshape the Marxist destruction of our capitalist machine, (one that actually produces GOODS AND SERVICES) that does not function under government mandate and funding, will we see Mo-Town again become a center for production and profit and tax revenues.
Funny thing is that I read a story the other day where they were blaming Jerome Cavanagh (the last white mayor) who left office in 1970. LOL
“It’s my understanding that April has been pushed back to May,” Dillon said”
Oh rapture, we’ve been saved! Another whole 30 days, now that calls for a celebration. Detroit is just like the Post Office, No one wants to live there anymore, but the PE unions just want to ignore that fact. They probably don’t have the money to bulldoze the ten square miles of derelict homes so that it can be turned back into farmland. Maybe the Muzzies over in Dearborn can help out and use the land to raise halal goats or something like that!
“The Ruins of Detroit” (several years old, but still relevant)
“Funny thing is that I read a story the other day where they were blaming Jerome Cavanagh (the last white mayor) who left office in 1970. LOL”
Wrong guy, it was Coleman Young who was mayor for twenty years or so that pushed the city over the edge.
(What year was the last year that the place had a prayer of surviving? Didn’t they already start bulldozing to try and increase property values? Haven’t I already seen 4 and 5 bedroom homes for $1,000 there?)
Coleman Young, Dennis Archer, Kwame Kilpatrick and a whole slew of city council crooks including Monica Conyers.
Yet they still think socialism is good and 0bamao hung the moon, I guess.
Shocker. Razz the place and start over with 50s style diners and no welfare.
Very good thread. Interesting. Tick, tick, tick, tick...
CURE: Dismantle everything socialist.
Chances are the residents of the city are going to end up moving to other places and terrorize the taxpayers in those cities and end up draining the areas of their resources.
So many vacant lots in Detroit...
HINT: Drive across the border into Leamington, Ontario Canada. Check out their nurseries...here’s a map...
>>The Ruins of Detroit (several years old, but still relevant<<
I watched a lot of the slid show but I found myself getting more and more depressed. Such history now just ruins!
I was greatly saddened when Hudsons was torn down. The “real” Santa Claus lived there and Sanders hot fudge sundaes were the real deal.
The thugs will soon be moving on. There’s nothing left to loot.
I thought Detroit had already turned into a trash dump. Let jesse Jackson and Al Sharpton run it. They’re experts at trash dumps.
You mean like the one with his wife who was on the City Council that helped cause this mess Who is now in da bigga house?
Yes his wife Monica Conyers is doin' time...
Too big to fail!!
“needs concessions from labor to avoid running short of cash.”
Is this a backdoor concession that it’s unions that have driven Detroit into bankruptcy?
Never. They will never admit it. It’s Bush’s fault, it’s China’s fault, etc, but they will never admit they bled the golden goose dry.
I think I found the problem with Detroit.
Somebody tell me what’s wrong with this list - from Wiki, the top 11 employers in Detroit.
1. Detroit Education System
2. City of Detroit
3. Detroit Medical Center
4. Henry Ford Health System
5. U.S. Government
6. Blue Cross Blue Shield
7. Wayne State University
8. State of Michigan
9. General Motors
11. US Post Office
These things are so obvious. Of course, libs don’t see it, but it’s clear what’s wrong to anyone with an unbiased brain in their head.
The big city dems will never solve their financial problems. Spending recklessly is part of their DNA. It can’t be changed.
Since they seem to want to fight any attempt of outsiders to help them, the best way for them to wake up fast is to simply ignore the problems, let them run out of money without a plan, and let the chips fall where they fall. Let them try to clean up their mess by themselves.
***** “ The thugs will soon be moving on. Theres nothing left to loot. “ ******
New Orleans Vermin learned in short order where they could survive and where they would die (or go to jail)
Katrina screwed me over so bad and it was far away ... it screwed me on this forum and in life ... I may never forgive some of my fellow Freepers for being the racist assholes that they are... as I was nearly banned for foretelling what was going to happen in New Orleans ... ( I was branded as a Racist) after the storm and everything I predicted came true ... not one apology for all of the vile and uncivil posts directed at me. Not one Apology.
QUOTE ME “Those Detroit thugs won’t be moving to Texas...”
(Austin and Houston have their Mental Wards... but the rest of us are sane)
I can see the NY Daily News headline now:
FORD ZERO TO CITY: DROP DEAD
You couldn't pay me to live anywhere in Wayne County.
Please freepmail me if you wish to be added or dropped from the mitten ping.
Check the trunk of Kwame Kilpatricks caddy. You know he has some of that Obama money somewhere.
and just last month the city council voted NOT to cut their own budgets and pay. They said they gave stuff back last year... guess the cell phones, city owned cars, paid lunches, and large butt kissing staff’s are more important than keeping the streetlights on, fixing the busses, retainting cops and firefighters and so on and so on...... sorry, but the city gets no sympathy from me. The city is now reaping what it has sown.
Roman Gribbs was the last white Mayor. He served from 1970 to 1974.
Spent several years in Houston. Lot of good folks live there, but I know what you mean just the same.
Who? . . . Me?
Yet Detroit city council still has a fleet of cars and the city provides gas for them.