Detroit Mayor Bing won’t seek re-election
DETROIT — A visibly frustrated Detroit Mayor Dave Bing announced Tuesday that he won’t seek a second term and ripped Michigan officials for not giving him enough time to solve the financially strapped city’s problems on his own.
His announcement came just seven weeks after the city’s checkbook was handed over to an emergency manager, making it the largest U.S. city placed under state oversight.
Detroit has a budget deficit approaching $380 million and long-term debt over $14 billion. The city could run out of cash before the end of the year, and bankruptcy hasn’t been ruled out.
Known for his cool as a former NBA basketball player, Bing spoke in a measured tone during a news conference.