City Of Detroit Teeters On Bankruptcy As State Audits Its Finances


Ali Alhalmi prepares hotdogs at Lafayette Coney Island restaurant... News PhotoDetroit,Economy,Factory,Finance,Government,Horizontal,Hot Dog,Michigan,Poverty,Preparation,Restaurant,USAPhotographer Collection: Getty Images News 2013 Getty ImagesDETROIT, MI - FEBRUARY 24: Ali Alhalmi prepares hotdogs at Lafayette Coney Island restaurant February 24, 2013 in Detroit, Michigan. The city of Detroit has faced serious economic challenges in the past decade, with a shrinking population and tax base while trying to maintain essential services. A financial review team issued a finding on February 19 identifying the city as being under a 'financial emergency.' Michigan Gov. Rick Snyder has 30 days from the report's issuance to officially declare a financial emergency, which could result in the governor appointing an emergency financial manager to oversee Detroit's municipal government. (Photo by J.D. Pooley/Getty Images)