Friday, December 13, 2013

3 questions about Detroit's bankruptcy

Three good questions about Detroit's bankruptcy in Salon:
1. Why are Detroit officials simultaneously moving to cut municipal workers’ pensions while spending hundreds of millions of dollars on a new professional hockey stadium? 
2. Why are municipal employees being blamed for Detroit’s woes when data prove they had little to do with the city’s fiscal problems? (Because Detroit’s bankruptcy was caused by a severe decline in revenue and made worse by complicated Wall Street deal.) 
3. If Michigan is so strapped for cash, why is Gov. Snyder almost doubling the salaries of his top officials?