The City of Hamtramck, Michigan has asked the State for permission to file bankruptcy. City Manager, Bill Cooper, says;
Cooper said;
"I'm going to run out of money by January 31, 2011, Bankruptcy would allow the city wants to stave off creditors and force its unions to consider concessions."
Many Michigan municipalities are under severe financial pressure following a crippling recession that has seen tax revenues plummet. The Detroit Public Schools considered bankruptcy last year but opted against it.
http://sayitaintsoalready.com/2010/11/16/michigan-city-seeks-permission-to-file-bankruptcy/
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DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
3 comments:
There are many counties and towns across America in the same situation-- including those right here on the Shore.
People are absolutely loathe to discuss a reduction-in-force (layoffs) to get budgets under control, but the biggest cost to many governments is PAYROLL, and that is not something that can be ignored.
You CANNOT just continue to raise taxes and fees to continue doing what you've always done.
It's always sad when someone has to lose a job, but the government is not there to provide jobs-- it's there to provide services at the most cost-effective level possible.
People MUST get past the emotional rhetoric about making changes in the functions and structure of the local governments.
If they don't we will ALL go broke.
Dominoes are beginning to fall...towns, cities, and even states (think California), are coming to the realization that there is nothing left BUT bankruptcy.
I agree with 9:24 AM You called it right.
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