Governor Rick Snyder to Address Detroit Finances

Category: News Briefs - Original Published on Thursday, 21 February 2013 09:50 Written by Britney Spear

With less than thirty days left to decide on whether or not Detroit will have an emergency manager, Governor Rick Snyder is set to address the media in an afternoon round table to discuss the city's finances.

Snyder is not expected to make the official announcement, but rather will offer an update on where things currently stand. His address comes just two days after the state-appointed review team declared Detroit in "financial emergency". The team cited the dependence on money borrowed to avoid a tremendous deficit along with long-term liabilities as the basis for their decision. The team further blamed the city's current bureaucratic structure for it's failure to put in place a plan for resolution.

Snyder has remarked on the painstaking process of determining whether or not to appoint a financial manager for the city, expressing that he will review all details before making his final decision.

Residents are split on the issue. Many believe that Detroit’s only way out of its troubles is to bring someone new and from the outside to address them. Some instead argue that recovery requires the city and state working together. They cite the progress made over the last couple of months. Yet, is the problem too big for that proposed solution?

At this point, Detroit’s current challenges have reached a level where it just might be necessary to invite a fresh pair of eyes to take a look at the situation.

Time will tell which side of the argument is the right one.

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