The cavalry is coming. The cavalry is coming from Washington.
A federal bailout for Detroit has been ruled out.
But the White House will be sending four senior Obama administration officials to Detroit next week -- including Attorney General Eric Holder Jr. -- to meet with city and state officials to make sure Detroit is getting all the federal resources its entitled too, and to help boost the economy, the Detroit Free Press reports.
Besides Holder, the first meeting, set for next Friday, will include Housing and Urban Development Secretary Shaun Donovan; Transportation Secretary Anthony Foxx; and Gene Sperling, director of the White House National Economic Council.
Todd Spangler of the Free Press reports that Sperling, a Michigan native, who is the point man for the White House for the Detroit financial crisis, said:
“We’re going to continue to support the efforts under way in Detroit and ensure the federal government is an active partner in supporting the revitalization of the city. This effort is about lifting up Detroit, and committing to a shared, long-term investment that will enable the businesses and residents in Detroit to expand opportunity and renew this world-class city.
Spangler reports the Washington cavalry is expected to meet with Gov. Rick Snyder, Mayor Dave Bing, Emergency Manager Kevyn Orr, Michigan’s two senators, and local members of Congess, as well as community, business, foundation, and non-profit leaders.
Spangler writes:
"The White House convened a meeting the Friday before Labor Day weekend to discuss Detroit’s struggling finances and to determine how the city could maximize existing federal programs and grants. It was attended by some of Detroit’s most prominent business and community leaders, four cabinet officers and key presidential advisers."
