Apparently it's one of the options on the table, as the city may soon become the largest American city to ever file for bankruptcy. My first and only visit to Detroit so far was in 1992, and it was bad in those days. I can't imagine what it's like there now. I even know people who've actually turned down promotions, because their job wanted to relocate them to Detroit. From theGrio: "For the third time this year, the city of Detroit is staring at
potential bankruptcy as legal wrangling over 'control' has caused $10
million in state aid to be withheld from the city. The continued issues
between the city and state of Michigan have led the state legislature to
talk about numerous options for the city, including potentially
dissolving the city altogether. 'If we have to, that is one idea we have to look at,' State Sen. Rick Jones said. Jones, a Republican representing Michigan’s 24
th district, said that dissolution would be a drastic step but everything is 'on the table' including Chapter 9 Bankruptcy."
The article continues about Detroit's longstanding fiscal woes: "Michigan Gov. Rick Snyder also acknowledged that anything was
possible in terms of how to handle Detroit’s financial situation, even
though dissolving the city would be a last resort. Last week, the
Detroit City Council rejected a contract with the law firm Miller
Canfield that would’ve allowed the firm to help handle the city’s
financial recovery plan. The rejection was apart of an ongoing power struggle between the
state, city council, and Detroit mayor Dave Bing, which could ultimately
lead to Detroit becoming the largest American city to ever file for
bankruptcy. Bing has already threatened city employees with temporary
layoffs starting in January, as the city stands to be short by $30
million."
