Posted in the Detroit Forum
#1 Feb 20, 2013
Learn it, know it, live it!!!
#2 Feb 20, 2013
Andy Dillon says "It's fixable" and he doesn't see any reduction in wages for city workers including police and fire. That sound rather rosy doesn't it.
The secret is in some technicalities. Under the emergency conditions and rules, there are some procedures that allow the city to unload as much as 85% of their legacy costs. This amounts to billions of dollars. Take that debt away and the city becomes much more manageable. Those legacy costs are there for a reason. They represent people who expected certain benefits and won't get them. Some people are going to be unhappy with this.
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