Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Latest Breaking News
In reply to the discussion: Judge Allows Detroit Bankruptcy to Go Forward [View all]rdking647
(5,113 posts)24. how do you pay
if you dont have the money?
how would you restructure the finances.
the city doesnt have the money to pay for basic services,pensions and debt service. thats a simple fact.
so what do you not pay?
a lot of the debt service is GO bonds whicg get the first slice of tax revenues. the only way not to pay them is thru bankruptcy. and in a bankruptcy GO bonds have a standing equal or greater than pensions
Edit history
Please sign in to view edit histories.
44 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
RecommendedHighlight replies with 5 or more recommendations