115
Detroit Cash Woes Prompt Emergency : Swingers Discussion 2179691013
Busy Swingers Forum - everything you always wanted to know about swingers.
SwingLifeStyle Swingers Personal Ads. | SwingLifeStyle Swingers Clubs

Busy Swingers Forum

Everything you always wanted to know about swingers.

Create A Free Account

HELP
FORUMSGeneral DiscussionsPoliticsDetroit Cash Woes Prompt Emergency
TOPIC: Detroit Cash Woes Prompt Emergency
GoTo Page: 1 2
Start   13 to 13 of 13 
User Details are only visible to members.
Michigan Gov. Rick Snyder declared a financial emergency in Detroit on Friday, pushing the city closer to becoming the largest in the country to have state control over its finances.

Detroit, a city once renowned for its manufacturing might, faces a $327 million budget deficit, more than $14 billion in long-term debt and persistent cash flow issues. Friday's announcement was all but guaranteed after a review team reported to Snyder on Feb. 19 that Detroit was in a financial emergency and needed the state's help to emerge from it.

He also said there is no "big bailout coming" from the state. Emergency managers have the power under state law to develop financial plans, renegotiate labor contracts, revise and approve budgets to help control spending, sell off city assets not restricted by charter and suspend the salaries of elected officials. (READ: nobody has to worry about the UNION vote)

Pittsburgh PA
Username hidden
(17025 posts)
GoTo Page: 1 2
Start   13 to 13 of 13 
TOPIC: Detroit Cash Woes Prompt Emergency