"Time is of the essence" for Detroit's financial rescue, The Detroit News says in an editorial urging Gov. Rick Snyder to act swiftly.
The city's latest annual audit highlights the general fund deficit at right around $327 million. . . .
It's time for an emergency financial manager to step in. . . . If city officials can't figure out how to fix Detroit's finances, Snyder ought to appoint someone who can. . . .
The sooner the governor can appoint an emergency financial manager, the better.
Amid a suggestion that Michigan's leader could move faster, the paper's Republican-friendly editorial board acknowledges that he "realizes time is of the essence." Direct blame for what it calls "finances . . . in shambles" is focused on "a City Council that has largely stonewalled its part of the city's financial consent agreement with the state."
