This economy is affecting us all.
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WEST BLOOMFIELD, Mich. [[WXYZ) - Police and firefighter jobs are on the line in West Bloomfield, and the township clerk is even raising the possibility of receivership if action isn't taken.

A special township meeting is being held Monday night to determine the fate of those jobs and a projected budget deficit for one of the most prosperous communities in southeast Michigan.

Even West Bloomfield isn't able to dodge the economic tidal wave hitting metro Detroit. Township officials are holding a special meeting to discuss cuts to services.

Township clerk Cathy Shaughnessy says West Bloomfield needs to renegotiate police and fire contracts, otherwise there will be lay-offs.

"There's many different concessions that could be done," said Shaughnessy. "Benefit reductions and sick day reductions are two options."

West Bloomfield is operating with a surplus right now, but declining property values and less state revenue means a $12 million projected deficit for 2012. Shaughnessy says not dealing with it now could be devastating.

"A projected deficit of 7 million dollars is like receivership, so we don't want that to happen."

http://www.wxyz.com/news/local/story...uOaFp4kiA.cspx