Detroit Is Paying Down Its Bills, Mayor Says

Through massive cuts, city saving $50 million annually on payroll

Mayor Dave Bing of Detroit is trying to hold off the auditors who may, within days, take over the financial management of city. On Wednesday, Bing made the case for the city to keep control of its wallet and credit cards. “The picture is not all doom and gloom,” Bing said in his annual State of the City address. “Every day there is more hope and possibilities…We can’t , and won’t, give up on our city.” It’s common knowledge that Detroit has been losing its tax base for years, following a significant resident exodus. To compensate, the city has gone through massive public employee cuts. Less than 9,7000 city workers remain on the job. That’s more than a thousand less than were on the city’s payroll last year, saving about $50 million annually. In all, Bing says the city has reduced its spending to $1.1 billion in the 2013 fiscal year. That’s down from $1.4 billion in 2009. That’s progress, right? But is it enough to revive Detroit and stave off state control of the city? We’ll know soon. (New York Times)

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