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Michigan Treasurer says Detroit to run out of money by May
Insight News ^ | January 10, 2011 | John Stoll

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 ...


TOPICS: Business/Economy; Government; US: Michigan
KEYWORDS: city; debt; detroit; healthcare; labor; mayor; michigan; money; spending

1 posted on 01/10/2012 6:25:44 PM PST by Clintonfatigued
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To: Clintonfatigued

Deeeeeee-troit ran out of money years ago. Smoke and mirrors and ripping off the taxpayers propped ‘em up.


2 posted on 01/10/2012 6:29:19 PM PST by dynachrome ("Our forefathers didn't bury their guns. They buried those that tried to take them.")
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To: Clintonfatigued
"It's my understanding that April has been pushed back to May," Dillon said

If they need a new month, may I suggest calling it Thermidor, or perhaps Brumaire?

3 posted on 01/10/2012 6:29:28 PM PST by ClearCase_guy (Nothing will change until after the war.)
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To: Clintonfatigued

So they can last to May instead of April. This is hugh and warrants a lot of pats on the backs.


4 posted on 01/10/2012 6:29:47 PM PST by umgud (No Rats, No Rino's)
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To: Clintonfatigued
"how come we didn't know the numbers were this bad?'"

Same ol' same ol'. Typical lying 'rat bs. Just like obama--"we didn't know how bad it was." bs.

5 posted on 01/10/2012 6:31:09 PM PST by hinckley buzzard
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To: Clintonfatigued

And in other news, Detroit still has money.


6 posted on 01/10/2012 6:31:33 PM PST by SkyDancer ("If You Want To Learn To Love Better, You Should Start With A Friend Who You Hate")
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To: grellis; cripplecreek; Darren McCarty; Quantum

It still seems no good news seems to be coming from Michigan.


7 posted on 01/10/2012 6:31:49 PM PST by Clintonfatigued (Illegal aliens collect welfare checks that Americans won't collect)
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To: Clintonfatigued

Money problems in a liberal democratic-party controlled paradise?

NAH!


8 posted on 01/10/2012 6:34:05 PM PST by freedumb2003 (Spoiler Alert! The secret to Terra Nova: THEY ARE ALL DEAD!!!)
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To: Clintonfatigued
John Conyers is threatening to call in his "personal friends" Obama and Holder to prevent the emergency manager. He says the law targets minority dominated cities. Jesse Jackson has declared that "This ain't Alabama".

Here are a couple of local stories.

Detroit town hall: Conyers vows to use White House relationships to fight state takeover

Civil disobedience possible to fight emergency manager law
9 posted on 01/10/2012 6:35:09 PM PST by cripplecreek (Stand with courage or shut up and do as you're told.)
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To: dynachrome

“..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.


10 posted on 01/10/2012 6:39:02 PM PST by EagleUSA
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To: freedumb2003

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


11 posted on 01/10/2012 6:40:12 PM PST by cripplecreek (Stand with courage or shut up and do as you're told.)
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To: ClearCase_guy

“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!


12 posted on 01/10/2012 6:42:04 PM PST by vette6387 (Enough Already!)
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To: EagleUSA

“The Ruins of Detroit” (several years old, but still relevant)

http://www.detroityes.com/home.htm


13 posted on 01/10/2012 6:42:04 PM PST by dynachrome ("Our forefathers didn't bury their guns. They buried those that tried to take them.")
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To: cripplecreek

“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.


14 posted on 01/10/2012 6:44:42 PM PST by vette6387 (Enough Already!)
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To: Clintonfatigued

Retroactive Satire?

(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?)

TT


15 posted on 01/10/2012 6:45:05 PM PST by TexasTransplant (Radical islam is islam. Moderate islam is the Trojan Horse.)
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To: vette6387

Coleman Young, Dennis Archer, Kwame Kilpatrick and a whole slew of city council crooks including Monica Conyers.


16 posted on 01/10/2012 6:48:12 PM PST by cripplecreek (Stand with courage or shut up and do as you're told.)
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To: dynachrome

Yet they still think socialism is good and 0bamao hung the moon, I guess.


17 posted on 01/10/2012 6:48:58 PM PST by TribalPrincess2U (NOT VOTING gets 0bamao re-elected.)
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To: Clintonfatigued

Shocker. Razz the place and start over with 50s style diners and no welfare.


18 posted on 01/10/2012 6:51:14 PM PST by samadams2000 (Someone important make......The Call!)
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To: Clintonfatigued; All

Very good thread. Interesting. Tick, tick, tick, tick...

(tsk...root cause...socialism)

http://www.youtube.com/watch?v=Xj2h0LSTY3U&feature=related

CURE: Dismantle everything socialist.


19 posted on 01/10/2012 6:54:34 PM PST by PGalt
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To: vette6387

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.


20 posted on 01/10/2012 6:59:58 PM PST by Niuhuru (The Internet is the digital AIDS; adapting and successfully destroying the MSM host.)
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To: Clintonfatigued; All

So many vacant lots in Detroit...

HINT: Drive across the border into Leamington, Ontario Canada. Check out their nurseries...here’s a map...

http://www.canpages.ca/business/ON/leamington/garden-centres-and-nurseries/3347-363400.html


21 posted on 01/10/2012 7:00:34 PM PST by PGalt
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To: dynachrome

>>“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!


22 posted on 01/10/2012 7:14:29 PM PST by freedumb2003 (Spoiler Alert! The secret to Terra Nova: THEY ARE ALL DEAD!!!)
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To: TribalPrincess2U

I was greatly saddened when Hudsons was torn down. The “real” Santa Claus lived there and Sanders hot fudge sundaes were the real deal.


23 posted on 01/10/2012 7:17:14 PM PST by dynachrome ("Our forefathers didn't bury their guns. They buried those that tried to take them.")
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To: Clintonfatigued

The thugs will soon be moving on. There’s nothing left to loot.


24 posted on 01/10/2012 7:28:57 PM PST by YHAOS (you betcha!)
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To: dynachrome

I thought Detroit had already turned into a trash dump. Let jesse Jackson and Al Sharpton run it. They’re experts at trash dumps.


25 posted on 01/10/2012 7:30:24 PM PST by baiamonte
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To: cripplecreek
Use his relationships?

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...

26 posted on 01/10/2012 7:39:59 PM PST by taildragger (( Palin / Mulally 2012 ))
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To: Clintonfatigued

Too big to fail!!


27 posted on 01/10/2012 7:48:32 PM PST by Mark (Don't argue with my posts. I typed while under sniper fire..)
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To: Clintonfatigued
Michigan Treasurer says Detroit to run out of OTHER PEOPLE'S money by May

Fixed.

28 posted on 01/10/2012 7:50:09 PM PST by FlingWingFlyer ("Climate Change" my a.... All weather is local.)
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To: Clintonfatigued

“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.


29 posted on 01/10/2012 7:50:09 PM PST by I still care (I miss my friends, bagels, and the NYC skyline - but not the taxes. I love the South.)
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To: Clintonfatigued

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
10. Chrysler
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.


30 posted on 01/10/2012 8:13:08 PM PST by I still care (I miss my friends, bagels, and the NYC skyline - but not the taxes. I love the South.)
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To: Clintonfatigued

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.


31 posted on 01/10/2012 8:27:52 PM PST by Joan Kerrey
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To: YHAOS

***** “ The thugs will soon be moving on. There’s 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)

Flame away

TT


32 posted on 01/10/2012 10:11:38 PM PST by TexasTransplant (Radical islam is islam. Moderate islam is the Trojan Horse.)
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To: Joan Kerrey
"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."

I can see the NY Daily News headline now:

FORD ZERO TO CITY: DROP DEAD

33 posted on 01/10/2012 10:22:07 PM PST by decal (I'm not rude, I don't suffer fools is all.)
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To: cripplecreek
The riots were on Jerry Cavanagh's watch, so he should get some blame for the decline. Gribbs was after Cavanagh and he was also white, and was the best mayor in the last 50 years. Then came 20 years of Coal-Man Young. Archer was another Cavanagh, but slightly better. Kwame was a blend of Ed McNamara and Coleman Young. Bing's in a no win situation.

You couldn't pay me to live anywhere in Wayne County.

34 posted on 01/10/2012 10:30:16 PM PST by Darren McCarty (Anybody but Romney or Obama)
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To: Springman; sergeantdave; cyclotic; netmilsmom; RatsDawg; PGalt; FreedomHammer; queenkathy; ...
MICHIGAN PING LIST

Please freepmail me if you wish to be added or dropped from the mitten ping.

35 posted on 01/11/2012 5:07:35 AM PST by grellis (I am Jill's overwhelming sense of disgust.)
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To: Clintonfatigued

Check the trunk of Kwame Kilpatricks caddy. You know he has some of that Obama money somewhere.


36 posted on 01/11/2012 5:14:28 AM PST by oust the louse (The presstitutes think after 2 primaries it's over and Mittens is the one...Santorum says: GAME ON)
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To: Clintonfatigued

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.


37 posted on 01/11/2012 5:54:24 AM PST by joe fonebone (Project Gunwalker, this will make watergate look like the warm up band......)
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To: cripplecreek
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

Roman Gribbs was the last white Mayor. He served from 1970 to 1974.

38 posted on 01/11/2012 6:25:02 AM PST by CharacterCounts (November 4, 2008 - the day America drank the Kool-Aid)
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To: TexasTransplant
Austin and Houston have their Mental Wards

Spent several years in Houston. Lot of good folks live there, but I know what you mean just the same.

Flame away

Who? . . . Me?

39 posted on 01/11/2012 10:01:02 AM PST by YHAOS (you betcha!)
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To: Clintonfatigued

Yet Detroit city council still has a fleet of cars and the city provides gas for them.


40 posted on 01/11/2012 3:23:20 PM PST by FrdmLvr (culture, language, borders)
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