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Detroit's financial picture worse than thought

Posted By -NO AUTHOR- On 05/09/2013 @ 10:58 pm In Money,Politics,U.S. | No Comments

(CBS News) Detroit’s emergency manager says the city is bleeding much more red ink than originally thought. That’s what Kevyn Orr told WWJ City Beat Reporter Vickie Thomas in an exclusive one-on-one interview.

“The situation is severe,” Orr said. “It’s worse that we originally thought. It ain’t good.”

With just 39 days under his belt, Orr is already putting the final touches on a draft of his 40-plus page financial report, which must be submitted to the state on Monday.

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