Video: The Root of Detroit's Problems -- and the Solution

By Mike Brownfield | February 22, 2013

 

In a presentation to the media on Thursday, Governor Snyder explained the root of Detroit's problems -- a population decline that dates back decades.

"If you go back to 1950, Detroit had 1.8 million people. That number in 2010 was down to 713,000 people," Governor Snyder explained. "And one of the issues you find with the finances of the city is, they built an infrastructure and a structure for a city well in excess of a million people. And in terms of the long-term liabilities of the city, they have thousands of more people they have retirement obligations for, and pension obligations, and other liabilities. And that accounts for a lot of this issue -- simply the change in population."

"This isn't about the last year," Governor Snyder noted. "This is an issue that's structurally been there for decades, and if you look at the primary issue behind it all, it's this, that decline in population."

Graph of Detroit's population history

Watch Governor Snyder's full presentation to the media on YouTube.

Click here for more facts about Detroit's fiscal condition.