"Throughout the rooms of City Hall these days, crossed fingers and caveats reflect the new reality in every fiscal conversation: Despite negotiations among this cityâ??s elected leaders, the final say on Detroitâ??s financial matters will come from Kevyn Orr, the emergency financial manager who took control of the cityâ??s finances less than a month ago.
â??I would hope between our staff and your honorable body, we can come to conclusions in terms of how we move this budget forward,â?? Mr. Bing said, sitting before the Council. â??If we agree collectively, Iâ??m hopeful that Kevyn Orr will also sign off on it.â??
In fact, the whole country should just agree to pay 50 cents on the dollar for all obligations of any sort (debt, SS, medicare, contracts). Bring in a ironclad balanced budget amendment and that should fix everything.
Trouble is, we need a dictator to do this. Will have to wait until the final collapse.