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July 19, 2013

Detroit Becomes Largest U.S. City to File for Bankruptcy 
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Detroit, Michigan, has become the largest city in the United States to
file for bankruptcy. Detroit's emergency manager, Kevyn Orr, says the
city's debt could be as high as $20 billion. The exact consequences of
Detroit's bankruptcy will be determined in court, but they could include
dramatic cuts to pensions for city workers.

 

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