By Erik Wasson - 07/21/13 01:45 PM EDT
Detroit’s bankruptcy manager doesn’t expect Congress to bailout the failed city.
Kevin Orr, the appointed Detroit emergency manager, told Fox News Sunday that the city caused its own bankruptcy—announced last week—and needs to fix its own problems.
Last week, Vice President Joe Biden said the administration was studying its options regarding the massive Detroit bankruptcy.
Orr said the city was the victim of “myopia” in failing to deal with unfunded pension liabilities coming down the pike for 60 years.
“Hope is not a strategy from my perspective,” he said. “I think Detroit has a responsibility to help itself. If it gets other assistance then great.”
Orr said that even thought the bankruptcy destroyed the city’s bond rating, he thinks creditors will come back once the city restructures itself. He called the bankruptcy “this little kerfuffle.”
The emergency manager added that Washington can take a lesson from Detroit and deal with its own fiscal shortfall sooner rather than later.
“Whatever the problems are, deal with them now,” he said.
Michigan Gov. Rick Snyder (R) said he also does not expect a federal bailout on CBS’s “Face the Nation.”
"No. And I don't expect one. I've said before the state cannot bail out the city of Detroit. And part of the context I would say to you in is it's not about just putting more money in a situation; it's about better services to citizens. Again, it's about accountable government," Snyder said.
This story was updated at 1:20 p.m.