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Obama Administration: Millions for Detroit "Not a Bailout"

Obama Administration: Millions for Detroit

The Obama administration is providing more than $100 million in federal grants to help a financially troubled Detroit.

White House chief economic adviser Gene Sperling says the grants aren't new money.

He said the money already had been alllocated for use in the city.

Sperling and three other high-ranking White House officials will discuss  opportunities during a closed-door meeting Friday at Wayne State University with Gov. Rick Snyder, state-appointed emergency manager Kevyn Orr, Mayor Dave Bing and community and business leaders.

 

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