Motor City On The Verge Of Financial Ruin: Are You Ready To Throw More Taxpayer Cash Down the Drain?

Detroit automakers are back on their feet, showing their best profits in years. But the city of Detroit's finances are worse than ever.

The city won't have enough money to pay its bills by April, unless Mayor Dave Bing can get the council and municipal unions to agree to steep spending cuts he's announced. By the end of its fiscal year in June, that shortfall will hit $45 million.

There is also the possibility that the state may take over the city, which would open the door for Detroit to file for bankruptcy. That would make it the largest U.S. city ever to suffer that fate.

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Spectator - 1/18/2012 2:17:01 PM

+2 Boost

The heck with that. Move to Maryland. We have steel manufacturing nearby as well as shipping harbour (Baltimore) that can handle exports and reduce costs. I'm surprised they haven't moved to Maryland to begin with. Heck we could have those kids from THE WIRE handle sales...they seem to be able to move product really well all while turning a profit.

Oh wait the Maryland government taxes the crap out of businesses...not to mention the residents. Friggin communists.

knowitall1985 - 1/18/2012 6:33:53 PM

+2 Boost

That white rapper gonna bail them out. What's his name he did that commerical for chrysler....LOL

upwards - 1/19/2012 1:21:48 AM

0 Boost

Autospies net traffic looks to be real low. Mybe if they would just post solid good car stories instead of bashing Detroit Obama and unions.

MorePower - 1/19/2012 4:44:30 AM

+2 Boost

Just sell Detroit to O.C.P. and get it over!

1c3am5 - 1/19/2012 9:28:30 AM

+3 Boost

You genius commentators do realize that what small percentage of the auto industry remains in Detroit are basically fenced-off mini-cities within the city of Detroit. The "Detroit" three have been outside of the city for more than a generation.

The average Detroiter has more in common with someone from south-central LA, southern Phoenix, south Chicago or some other WalMart-wage hellhole. The only thing that makes Detroit more "visually" interesting is that it was once a vibrant community, abandoned by those who built it, and left to be run by criminals.

Truth hurts.