Detroit Lays Off Public Workers

    DETROIT, MI - MARCH 23: A view of downtown Detroit s shown March 23, 2011 in Detroit, Michigan. The new census figures show that Detroit has lost 25 percent of its population in the last ten years, bringing the city's population down to its lowest since 1910.  (Photo by Bill Pugliano/Getty Images)

    Bill Pugliano / Getty Images

    More bleak news out of Detroit, where Mayor Dave Bing announced he would have to cut 9 percent of the city's public work force—about 1,000 employees—in an attempt to save money. The layoffs will save about $14 million by June, but that alone won't be enough to balance the budget. Bing said the city could run out of money by spring and be $45 million short by the middle of next year. He also called for pay cuts, higher health-care contributions, and a corporate tax increase to make up the difference.

    Read it at The New York Times