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To: Texas Fossil
BUT, the table shows Detroit’s solvency horizon as 2023 also??

The table just shows solvency horizons for municipal pension systems. In other words, if Detroit had no other debts or expenses and is unable to increase income to its pension system, in 2023 it would no longer be able to pay out pensions to everyone that has been promised them.

Since Detroit has a whole lot more debts and expenses besides its pension system, and tax revenue is not sufficient to even cover its debt service, Detroit is already bankrupt.

37 posted on 07/23/2013 10:41:10 AM PDT by Bubba_Leroy (The Obamanation Continues)
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To: Bubba_Leroy
Detroit is already bankrupt

Yes, I already knew that. And the idiot judge ruled that the filing was wrong & embarrassing to Obozo. hee hee hee

39 posted on 07/23/2013 10:49:45 AM PDT by Texas Fossil
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