Is Detroit/Politicians INSANE?
DETROIT IS ABOUT TO IMPLODE!!!
Detroit Mayor Dave Bing's top financial and administrative officers today are laying out for City Council the city's bleak budget status.
Charles Beckham, Bing's chief administrative officer, said the city is operating with a $60-million to $80-million cash shortage -- one that could implode come October -- on top of the $275-million to $300-million overall deficit.
“All of our revenue projections have been off in the wrong direction," Beckham said.
Beckham said the Bing administration has taken these emergency measures to address the budget shortfall:
• This morning officials held their first Operation Restructuring — or O.R. — meeting to discuss what city departments and services will be consolidated and eliminated. “The pun is intended because we are going to have to provide surgery on the city of Detroit,’’ Beckham said.
• As of July 1, all discretionary spending, such as that for IT equipment, travel and ongoing improvement projects, was frozen.
• Requesting that all vendors who provide services to the city agree to a 4% reduction in what they city will pay them.
Effective Friday, 113 bus drivers will be laid off if the city does not call back their layoff notices. “We don't like that -- that's difficult to do,” Beckham said of the issued layoffs. “We feel transportation is a core service.”
"Every day we don't lay off people ... we're spending money we don't have," he said.
Norm White, Bing's chief financial officer, said there is no question that cuts across city services are coming, but the administration is trying to be mindful of what is appropriate during the first phase.
“If we don't do anything, we're going to have a problem,” he said.
DETROIT ALREADY HAS A PROBLEM....A BIG PROBLEM.
SO WHAT DOES DETROIT INTEND TO DO? HOW ABOUT BORROWING $500 MILLION DOLLARS TO BUILD NEW SCHOOLS....
Detroit Public Schools will rebuild or completely renovate 18 schools as part of the $500.5 million bond proposal that will go to voters in November.
Something is very wrong in our country folks....we are firing bus drivers who take people to and from work in a city on the brink of finanicial collapse.......and politicians are requesting voters to approve a $500 million dollar bond to build new schools?
Reminds me of someone trying to reform health care when there is not enough money to pay for health care in the first place.
Soon this ponzi scheme will come to an end....the only question now is how?
The greatest superpower in the history of the world simply can't tell its citizens their hopes for retirement were a fleeting dream.......it must create an environment where giving up retirement dreams are a satisfactory trade off for a greater good....now the question is what will it be?