According to My Fox Detroit, Governor Rick Snyder has officially declared the city of Detroit in a financial emergency, March 1, 2013, and an emergency financial manager is imminent. City officials have until March 12 to appeal his decision.
Snyder made his decision after a review team of 6 people reported to him their findings on February 19.
Governor Rick Snyder said, "I believe it’s appropriate to declare the city of Detroit in financial emergency."
The city has been struggling with a declining population since 2000 and has not regained momentum. Detroit now ranks 18 in the country, when as one time, it was number 5.
With $14 billion in debt and the determination to appoint an EM, citizens wonder if an EM can really be effective.
Mayor Dave Bing has not yet addressed the citizens publicly, however, he posted a video with his statement. The mayor disagrees with the idea of turning the city over to the state, but he believes if the city improves after the appointment, he will cooperate.
Council president, Charles Pugh also disagrees with the appointment of an EM, as well as Council woman, Saunteel Jenkins.
Detroit is known as "The comeback city," but can it bounce back from such gross debt.