By Suzette Hackney and Matt Helms / Detroit Free Press – Detroit will run out of cash a week from today if a lawsuit challenging the validity of the city’s consent agreement with the state is not withdrawn, city officials said this morning.
Jack Martin, the city’s new chief financial officer, said the city will be broke by June 15 but should be able to make payroll for its employees. He said the city will be operating in a deficit situation if the state withholds payments on a portion of the $80 million in bond money needed to help keep the city afloat.
CKA – So you minorities in Detroit and around the country voted for Hope & Change and instead you got poorer and your cities are a bigger disaster than they were 4 years ago. Congratulations!!!