Rezension:

A few months http://al4a.fun al4 Orr warned earlier this year that Detroit’s expenditures have exceeded revenues by an average of $100 million a year between 2008 and 2012, and these operating deficits have been covered with long-term borrowing. This year alone, the city issued $137 billion in bonds to cover revenue shortfalls.  The city will run out of cash unless it defers payments on its obligations, including contributions to city employee pension programs. As of April 26, the city had just $64 million in cash on hand but $226 million in obligations in loans, property tax distributions and deferred pension contributions.

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