The former Packard Plant is seen on February 24, 2013 in Detroit, Michigan. (AFP Photo / J.D. Pooley)
The city of Detroit, Michigan is days away from running out of money, and a state-appointed emergency manager says the situation is dire.
Kevyn Orr was hired by Michigan back in March to meet with leaders in Detroit to try and figure a way to save the once-thriving city from total bankruptcy. On Sunday he released the first report to show his findings over the past month and a half, and his assessment painted a picture of a city in far worse shape than many thought.
According to Orr’s report, the one-time headquarters of the automobile industry is one month away from running out of cash yet owes billions.