The City of Detroit Declared Bankruptcy Today
Re: The City of Detroit Declared Bankruptcy Today
by jimmyz » Fri Jul 26, 2013 1:18 pm
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Re: The City of Detroit Declared Bankruptcy Today
by The Comrade » Fri Jul 26, 2013 1:35 pm
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Re: The City of Detroit Declared Bankruptcy Today
by Charai » Fri Jul 26, 2013 1:42 pm
I honestly didn't get that and just snapped my fingers in a Z in my office. Secretary look at me like im crazy. TGIF
Who let these Heaux in my thread?
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Re: The City of Detroit Declared Bankruptcy Today
by jimmyz » Fri Jul 26, 2013 1:47 pm
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Re: The City of Detroit Declared Bankruptcy Today
by Ben Huh » Sun Jul 28, 2013 5:08 pm
Even if the pensions are smaller than other cities, if the city has no money to pay out what is owed, it can still very much be a factor in the city going under. A better summary would be that it paid out pensions when they had money and now a lot of that money (taxes) is gone. Nothing wrong with that, shit happens and sometimes economies go flat. Problem is that they were still always on the hook for the pensions regardless of how much tax income the local government was bringing in.
..."if the only thing keeping a person decent is the expectation of a divine reward, then brother, that person is a piece of shit."
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Re: The City of Detroit Declared Bankruptcy Today
by Lobster » Sun Jul 28, 2013 5:28 pm
What proportion of pensions exactly do retired police and firemen represent? Are these the only government worker pensions?
This is the most relevant article to that question I've found so far:
http://www.statebudgetsolutions.org/pub ... unding-gap
This is the most relevant article to that question I've found so far:
http://www.statebudgetsolutions.org/pub ... unding-gap
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