“We’ve been collecting operating deficits at about $18 million to $20 million a year. That’s nobody’s fault, I think, frankly, the mayor and the council has done the best they can with what they have. The city has probably cut as much as it can cut to the bone now, and so its been trying to operate on the basis of borrowing short-term loans all the time,” he said.

Orr said he isn’t ruling out bankruptcy for the city just yet.

“Frankly, from my perspective, if I can accomplish what I need to accomplish without bankruptcy, I’d be elated,” he said. “I can’t guarantee that [bankruptcy won't happen] in the least, in fact, to a large degree that’s going to be dependent upon the positions of a lot of other stakeholders that they have in this, some of whom might prefer a court order to make them do the things they need to do.”

http://detroit.cbslocal.com/2013/05/...han-i-thought/


Apparently, there's nothing left to cut.