Wednesday, June 13, 2012

Detroit Could Go Bankrupt in Days

It's a mini-Greece. The Detroit City Council wants the the good times to keep on rolling, despite the fact the city has no money to do so.

Breitbart reports:
Yesterday, Detroit Mayor and former NBA star Dave Bing failed to convince Detroit’s City Council to push for dismissal of a lawsuit that would challenge the city’s agreement with the state to restore fiscal stability. “[O]nce we run out of money,” said Bing, “there is no way that we can run this city – and that’s the risk that we’re up against as we speak here today.”

Based on the lawsuit, which is an attempt by the city to overrule an agreement with the state that requires budget cuts, the state of Michigan is threatening to hold back $80 million in funding. “They don’t seem to be backing down at all, so I don’t want to play this game of roulette and keep our citizens at risk,” pled Bing.

But the City Council doesn’t want to hear it. They want to keep spending, even if there’s no money to do it with.


  1. Hmm, what does Clint Eastwood have to say about this?

  2. Raise taxes on former NBA stars! That'll work, right?

  3. So you keep saying, I'll believe when it happens, until then this is just wishful thinking like a soap opera.