68 Michigan Cities Facing Financial Distress May Go Bankrupt Governor Warns
Governor Jennifer Granholm is predicting more cities may face bankruptcy in the year ahead, and part of the solution, she says, should be new revenue. This is just one more issue the new governor will face on January first. The issues are mounting up, the new governor must tackle the $1.6 billion dollar deficit, revamping the business tax and now a growing list of potential bankrupt cities.
Governor Granholm: "If you continue down this path, you will have more and more cities that are going to be asking for an emergency financial manager or bankruptcy."
The governor says there are some 68 cities, including Jackson, that are on a financial watch or are under financial stress