Bankrupt Detroit Gets Boost from White House

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The White House says it's found more than $100 million to help fix a bankrupt Detroit.

The grant will include $65 million in Community Development Block Grants, $25 million in a public-private collaboration, and nearly $11 million aimed at ensuring families can live in safe neighborhoods.

Together, the grant money will allow the city to hire more police and firefighters, and clear out blighted neighborhoods. But its still far less than the $18 billion of debt facing the Motor City.

The president's Chief Economic Adviser, U.S. Attorney General, Transportation Secretary and Housing and Urban Development Secretary are spending their Friday in the Motor City.

The four leaders will meet with Michigan's governor, the state-appointed emergency city manager, and the mayor.

Washington leaders have pledged "there is not going to be a bailout" like the massive federal bailout that helped to rescue Chrysler and General Motors.

"We have enough problems with the federal deficit. We need to be creative and look at existing programs. There are still some funds there," Sen.Carl Levin, D-Mich., said.

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