Shikha Dalmia on Detroit’s Sweet Bankruptcy Deal for Retirees

If
there is an organizing principle in Detroit’s bankruptcy settlement
last week, it is that those at the forefront of fleecing the city
will get the sweetest deal and the innocent victims will get the
shaft.

There is no other way to interpret the recent efforts by both
the Democratic White House and the Republican Gov. Rick Snyder to
look for ever-more creative ways to handover taxpayer money to city
retirees. Left out of the equation are residents who have paid for
such profligacy by having to live in an unlivable city.

Looking back, the entire bankruptcy exercise will seem like a
giant missed opportunity to put Detroit on a path of fiscal sanity
— and recovery.

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