Wednesday, November 16, 2011

You Can Buy Detroit at the Foreclosure Auction!

In case ChooChoo Barrett--and the MPS Board--is not paying attention, here's the news from Detroit.

A closely guarded report on Detroit's finances paints an alarming picture of a city that will run out of cash by April unless officials make immediate, painful reductions that will cut deeply in to public services.

The report, obtained by the Free Press, outlines some drastic scenarios that illustrate how steep those cuts must be for the city to stay afloat.

For example, if the city laid off 2,200 employees -- a third of its workforce -- the city still would run out of cash by July.

Man, that was quick.

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