“This is an issue that has to be resolved between Michigan and Detroit and the creditors when it comes to the insolvency of the city,” said White House Press Secretary Jay Carney today.
Carney added, however, that top administration officials are discussing ways to advise Detroit city leaders.
“We’ll be partners in an effort to assist the city and the state.”
So, is it too early to talk about a federal bailout?
“Again,” said Carney, “I would point you to what we’ve said and what leaders in Michigan and Detroit have said, which is that on the matter of their insolvency that’s something for the city and the creditors to resolve.”
Vice President Joe Biden seemed slightly befuddled when asked the same question earlier in the day.
“Can we help Detroit?,” he replied. “We are now going through exactly in detail what the…we had a meeting yesterday just gettting a briefing on the status. The question is, uh, we dont know at this point.”