Detroit's Chapter 9 bankruptcy filing has been billed as the only option able to reconcile the estimated $18 billion debt plaguing the city and making public infrastructure a near impossibility. This bankruptcy would cut city debts owed to bondholders/banks as well as the pension funds/health benefits of city employees; our teachers, firefighters, police, librarians. Even though cutting pensions violates the state constitution, federal bankruptcy law would trump state law jeopardizing Detroit's retirement plan that provides the average pensioner with a mere $18,000/year. This petition demands the federal government to bailout the city just as it did with GM and Chrysler--the same auto industry that abandoned Detroit when it sent its manufacturing overseas.
This is historical material “frozen in time”. The website is no longer updated and links to external websites and some internal pages may not work.
