Tuesday, May 14, 2013

Detroit rescue roadmap may take detour as unions reject cutbacks

Detroit rescue roadmap may take detour as unions reject cutbacks | Crain's Detroit Business:
"Orr’s report, which specifies the depth of Detroit’s fiscal crisis and sketches out ways to resolve it, shows that the city confronts a $386 million cumulative deficit by the end of next month, when it may run out of cash.
At the same time, the city has at least $15.7 billion in long-term debt and retiree obligations."

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