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Detroit Mayor Bing: Union givebacks, state help urgent to stave off emergency takeover
DETROIT (AP) ' Detroit Mayor Dave Bing has called for municipal unions to accept 10 percent pay cuts so the city avoid falling into the hands of a state emergency manager.
He's also calling for Michigan leaders to come through with funds he says are due the city under a decade-old tax deal.
Bing's comments came during a TV and radio address Wednesday evening. He said the city of 713,000 faces a $45 million cash shortfall by the end of its fiscal year next June. His administration has said Detroit has an accumulated deficit about $150 million in its $3.1 billion annual budget.
If Detroit doesn't fix its fiscal problems, the state could appoint a financial manager to make sweeping changes.