Brandenburg agrees consent agreement is best for Detroit
Lansing—After weeks of negotiations, the Detroit City Council agreed to the consent agreement on Wednesday evening to address the $200 million budget deficit facing the city of Detroit.
State Sen. Jack Brandenburg, R- Harrison Township, offered the following response.
“There were only three choices for the city: consent agreement, emergency manager, and bankruptcy. The consent agreement is a win-win situation for all parties involved. The status of Mayor Bing and the council will not change, oversight by the financial advisory board will occur, and a detailed outline for fixing the city with the reforms favored by the governor will be carried out.
“A bailout was not an option. First off, the money is simply not there, and secondly, it is time for Detroit to take responsibility for the mistakes of the past. Decades of ineffective leadership and inaction are a large part of the reason Detroit is in the dire condition that it is in today.
“I support any measure to ensure that bankruptcy never becomes a reality for Detroit. The enormous black eye to Michigan’s reputation would be long lasting and disastrous to our economy and to job creation. Bankruptcy would devastate the credit rating of the entire state, increase interest rates and reduce the ability of the state and any local government or school districts in Michigan to borrow money.”