REUTERS/ Rebecca Cook - Protesters carry a banner calling for Detroit's debt to be cancelled as people enter the federal courthouse for day one of Detroit's municipal bankruptcy hearings in Detroit, Michigan July 24, 2013
Opinion
The Retirement Surprise In Detroit's Bankruptcy
July 25, 2013, Robert C. Pozen
After examining Detroit's budget shortfalls following its recent bankruptcy filing, Robert Pozen finds that most cities also have unfunded health care obligations that dwarf their unfunded pension obligations. Pozen lays out six strategies, ordered by political difficulty, that other cities have utilized to legally reduce their health care obligations.