Citizens Research Council of Michigan

Commentary
10:30 am
Wed December 7, 2011

Can Detroit avoid an emergency manager?

So, does Detroit really need an Emergency Manager? Can the city’s elected leaders somehow get the job done? This much we know: The governor has ordered a preliminary review of  the city’s finances. There have been major signs of trouble for years.

Now, the city is running a large budget deficit, and the mayor says that as it now stands, the city will run out of cash by April.

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Politics
5:50 pm
Mon December 5, 2011

Detroit's cash crunch: Report highlights role of debt and legacy costs

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A recent report from the Citizens Research Council of Michigan highlights a sometimes overlooked part of Detroit’s current fiscal crisis: the city’s debt and legacy costs.

According to the report, Detroit has about $14 billion in liabilities (though about $5.2 billion of that is for the Detroit Water and Sewerage Department, and thus shared with its suburban customers).

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