“Grand” Bargain the County Edition

via WXYZ

bailouts“Fitch downgraded $203 million in building authority bonds, $186 million in limited general obligation bonds and $51 million in stadium refunding bonds. … jail boondoggle that wasted $130 million and counting.

Wayne County has a structural debt of $50 million and $40 million more is needed each year to bring its pension system back – the underfunding accounts for about 70 percent of the long-term debt of $2.9 billion.”

Hmmm… bond issues, huh?

You Betcha! (16)Nuh Uh.(4)

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