Bing: No Federal Bailout for Detroit ‘Yet’

Detroit Mayor: We will not be the last major city to declare bankruptcy

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Detroit Mayor Dave Bing (D) said the motor city will not receive a federal bailout “yet” Sunday on ABC’s “This Week.”

Bing did concede he would seek assistance for the city through “different departments” in the federal government.

However, the Detroit mayor was vague about what help the federal government could provide, noting asking directly for monetary assistance is “difficult right now.”

Bing said he would be more specific about the aid he is seeking from the federal government “in the days and weeks ahead.”

Bing concluded that Detroit’s financial struggles are symptomatic of larger fiscal issues facing urban municipalities and Detroit will not be the last “major urban city” to go bankrupt.

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