Detroit Bankruptcy Looms with Deficit of $446 Million in Budget of $1.6 Billion

http://globaleconomicanalysis.blogspot.com/2010/04/detroit-bankruptcy-looms-with-deficit.html


Detroit has hit the end of the line. It's budget deficit is between $446 million and $466 million (28% to 29%) of $1.6 billion with few ways other than drastic cuts in wages and benefits to address the problem.If unions will not give in (and they won't), Detroit Faces Bankruptcy.