Detroit keeps cutting budget, but still has $243 million deficit

From The Detroit News: The Detroit school system has made progress trimming its budget, but the district is still facing a $243.7 million budget deficit and cuts continue to be made daily, the district's emergency financial manager says. Combining past deficits and projecting the deficit for the upcoming fiscal year, the district's total deficit was hovering between $410 and $430 million before cuts were made. Emergency financial manager Robert Bobb says the $410 million to $430 million figure includes a $139.7 million deficit he inherited from fiscal year 2008 and a $145 million deficit for fiscal year 2009.