Detriot Could Run Out of Money By June

The Detriot News reports:

Amid growing concern about Detroit's financial status, Mayor Kwame Kilpatrick is asking the City Council for authority to borrow $130 million to cover immediate and overdue bills.

Without the loan, Detroit will run out of cash by June, according to a city finance department report.

"Without the bonds, it would make our cash situation very difficult," said Detroit Interim Finance Director Roger Short.

The money will be used to pay off $74 million owed to the city's pension fund for last year and other bills.

We are going to find out about how overpaid many government workers are,especially in a place with a declining population.Is Chapter 9 bankruptcy coming to Detriot?