Flint Back in Debt Years After City Leaders Said It Wouldn’t Happen Again
More than a decade after the state of Michigan took over the city of Flint due to financial debt, the city of Flint is facing the same financial problems. The state of Michigan took over the city of Flint's finances in December 2011 when then-Gov. Rick Snyder, a Republican, appointed an emergency manager. The state took over because Flint was in a financial mess with an underfunded pension system and debt-ridden budgets. Flint experienced a consistent deficit in the general fund as well as other budget issues and unfunded liabilities in the pension system. In June 2009, the city's pension system was funded at 68%. --- Support this podcast: https://podcasters.spotify.com/pod/show/michigan-in-focus/support
Audio is streamed directly from the publisher (afp-444292-injected.calisto.simplecastaudio.com) as published in their RSS feed. Play Podcasts does not host this file. Rights-holders can request removal through the copyright & takedown page.
Show Notes
More than a decade after the state of Michigan took over the city of Flint due to financial debt, the city of Flint is facing the same financial problems. The state of Michigan took over the city of Flint's finances in December 2011 when then-Gov. Rick Snyder, a Republican, appointed an emergency manager. The state took over because Flint was in a financial mess with an underfunded pension system and debt-ridden budgets. Flint experienced a consistent deficit in the general fund as well as other budget issues and unfunded liabilities in the pension system. In June 2009, the city's pension system was funded at 68%.
Support this podcast: https://podcasters.spotify.com/pod/show/michigan-in-focus/support
Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.