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View Diary: Detroit Emergency Manager Orr painting a much bleaker picture than reality suggests (14 comments)

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  •  Existing pension assets... (4+ / 0-)

    ...will never be touched no matter what Orr or anyone else does, including having the city declare bankruptcy.

    City bankruptcy may suspend further city payments into the fund. If existing funds are insufficient to pay benefits, the retirees' benefits must be cut.

    "Loot the funds" implies that money will be taken from the fund. This event will never happen under any circumstances.

    (-5.50,-6.67): Left Libertarian
    Leadership doesn't mean taking a straw poll and then just throwing up your hands. -Jyrinx

    by Sparhawk on Thu Aug 08, 2013 at 09:54:29 AM PDT

    [ Parent ]

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