Detroit City Files for Bankruptcy
"This decision comes in the wake of 60 years of decline in the city, a period in which reality was often ignored. I know that many will see this as a low point in the city's history. If so, I think it will also be the foundation of the city's future," said Michigan governor Richard Snyder in a letter posted with the filing.
If approved in court, it will be the largest municipal bankruptcy filing in American history, surpassing previous record filings by Jefferson Country, Alabama and Stockton. Detroit will also become the largest city to go bankrupt.
The city’s collapse is more than obvious, according to Snyder, who revealed that Detroit’s citizens have to wait 58 minutes for the police to respond to calls, way over the 11-minute national average. Also, only 8.7 percent of criminal cased are solved, less than a third when compared to the Michigan state average of 30.5 percent.
The unemployment rate has nearly tripled since 2000 and the homicide rate is at its highest level in 2013. Detroit is also home to about 78,000 abandoned buildings, while only a third of ambulances were in service in the first quarter of the year, the report revealed.
Story via USA Today