Wednesday, February 20, 2013

Detroit Review Team Finds 'Financial Emergency' In City

This is what 4 decades of liberal leadership, rampant corruption and unrestrained spending has wrought.
DETROIT -According to the Michigan State Treasurer's Office, the six-member financial review team appointed in December to examine the city of Detroit’s finances has unanimously determined that a local government financial emergency currently exists in the city, and no satisfactory plan is in place to resolve it.
"This review team spent two months pouring over the city’s finances, taking careful consideration of both long and short-term issues, including recent actions by the administration and City Council,” said State Treasurer Andy Dillon, a member of the six-person panel. “While we appreciate the steps the city has taken over the past number of weeks, key reform measures have not occurred quickly enough, if at all. The team collectively believes the city needs assistance in making the difficult decisions necessary to achieve the significant reforms that are so crucial to the city’s long-term viability."

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