MichiganRadio

Bing Wants to Borrow to Clear Deficit DETROIT, MI (Michigan Radio) - Detroit Mayor Dave Bing hopes to borrow $250 million to help erase the city's deficit.

Bing is asking the Detroit City Council to approve the borrowing. But he says there's still more to do to get the city back in the black.

"That will not get us out of the cash crunch that we're in. It will help, but it doesn't solve the problem," he said.

Detroit faces a $325 million deficit, and expects to be short another $60 million to $70 million this year.

Bing is also seeking concessions from city workers to try and balance the books. But so far he's had limited success with the unions.

Contact Sarah Hulett at sarahhu@umich.edu © Copyright 2012, Michigan Radio