When the auto bailout was passed, Washington told the American taxpayers that it was an investment that would pay itself back in the long run, but now it looks like that investment is costing us more than we bargained for.

Michigan will begin a new initiative to demolish thousands of vacant and abandoned homes in Detroit. The city lost a quarter of its population between 2000 and 2010 and has an estimated 40,000 vacant structures.

Missed last week’s posts? Don’t worry we have you covered. Take a look the top 3 posts from last week!

Detroit has been in such a dire financial position that it had to turn over control of its budget to an outside board. Under the terms of a consent agreement with the state of Michigan, this outside board controls much of Detroit’s finances. So it comes as no surprise that the estimated $700-900,000 being spent on fireworks recently was met with some criticism.

Lastly, in Nevada more than 400 teachers received pink slips from the Clark County School District this week after eliminating more than 1,000 teaching positions in the next year to balance its budget.

Today, 107 doctors, nurses and social workers across the country were charged with Medicare fraud in what Federal Officials have called a “nationwide takedown.”

The State reports that South Carolina’s retirement system has now run a deficit of $1.4 billion dollars in just one year. Currently covering almost500,000 people, the system includes state employees, local government workers and teachers.

A roundup of this morning’s must-read budget and economic stories.

Take a look at last week’s most popular posts.

A roundup of this morning’s must-read budget and economic stories.