Michigan Officials Stress Pension Cuts Unavoidable While Declining Federal Funds

Michigan Officials Stress Pension Cuts Unavoidable While Declining Federal Funds: While Gov. Rick Snyder (R-MI), Detroit Mayor David Bing, and emergency manager Kevyn Orr gave varied takes on the likelihood of a federal bailout for the country’s largest bankrupt city on Sunday, Snyder and Orr agreed that the city’s pensioners are going to see their promised benefits cut. Orr explicitly avoided taking a view on [...]/p