WMFD TV

Search Archive WMFD.com News

www.wmfd.com - The Motor City is quickly running out of cash. }}" />

   
 
 
The Motor City Is Running Out Of Money

Story By: Larry Stine

 

 

 
 
 
  Email Story to Friend
   
  Original Published: 5/14/2013  The Motor City is quickly running out of cash.    A report by Detroit's bankruptcy attorney says the city government is weeks away from depleting the funds it needs to operate.   Kevyn Orr writes "the path Detroit has followed for more than 40 years is unsustainable, and only a complete restructuring of the city's finances and operations will allow Detroit to regain its footing."   To give you an idea of how dire the situation is, Detroit is at least $15-billion in debt, due to years of borrowing to pay bills as tax revenues plummeted.   People are leaving the city in droves.    The city's population has fallen nearly 30 percent since last year.    And there are currently 100,000 vacant lots and buildings in the city.  
   
  MORE RECENT NEWS
 
Image1 A Police officer for the Village of Lexington was officially sworn in for her full time position Tuesday evening at the Village's Monthly Council meeting. Full Story
Image1 Richland County Mental Health and Recovery Services observed the 25th National Recovery Month kickoff at the Cafe on Main Street. Full Story
 
Image1 Autism statistics from the U.S. Centers for Disease Control and Prevention identify around one in 68 American children as on the autism spectrum, a 10-fold increase in prevalence in 40 years. Full Story
Image1 The Crawford/Richland County AFL-CIO Labor Day Parade kicked off Monday morning in downtown Mansfield. Full Story
  MORE NEWS
 

Mansfield Celebrates Labor Day With Annual Parade

Vintage Baseball Played In Shelby

Girls' night out with a medical twist

More News