Pontiac, Michigan, is having a fire sale to raise desperately needed money. Up for sale is city hall, the police station, the library, cemeteries, golf courses, and on and on—just about every public asset, reports the Detroit Free Press. Pontiac has slashed its budget from $58 million to $38 million since an emergency planner took over in 2009, but it still has a $12 million shortfall.
Even worse: All of this might be a sign of what's in store on a much larger scale for Detroit, which must cut $330 million from a $1.2 billion budget, notes the Free Press. One thing not for sale in Pontiac, by the way: the Silverdome where the Detroit Lions once played. Pontiac turned down a $20 million offer in 2005, only to sell the stadium at auction for $583,000 in 2009. (Read more Pontiac, Michigan stories.)