Guest commentary: Detroit needs a long-term economic growth plan | Detroit Free Press | freep.com
This article by Professor John E. Mogk discusses the long-term vision that Detroit needs, not just a focus on short-term cost cutting that will only buy time, make city employees poorer and not stop the city's downward spiral.
An excerpt from the article:
"Only economic growth that provides jobs, lifts the median income of residents and expands private investment will reverse the city's fall. There is an urgent need for a long-term economic growth plan for Detroit to build on any short-term fix. Otherwise, budget cutting ultimately solves nothing; it simply seals the city's fate.
Balancing the budget will be painful, but it is the city's easiest challenge. Elected leaders, an emergency manager or a bankruptcy court will cut Detroit's workforce, reduce compensation, sell municipal assets, privatize services and raise fees or taxes. Residents will see services reduced and costs increased.
Then what? Then the real challenges begin."
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