Detroit residents on bankruptcy: Don't forget about us

A neighborhood stands with numerous empty lots in Detroit, Mich.

City workers and politicians and budget analysts in Detroit know the numbers behind the largest municipal bankruptcy in U.S. history.

The city owes $20 billion in long term debt, to just about 100,000 different creditors.

But the residents of Detroit -- the people living the impacts of the bankruptcy -- have their own thoughts.

Charlie LeDuff is a reporter who grew up in Detroit. He told Marketplace Host Kai Ryssdal that the mood isn't so great in his hometown city.

"If you're a retiree from the municipality, you're a cop, a fireman, anybody earning a pension now, you're screwed," LeDuff says. And even though Detroit's restoration could take years, LeDuff hasn't given up all hope. "If you could say it poetically, Detroit is a town built by the little man. Where is his future? That's the true question. "

LeDuff says that even though the city may face some tough times, he'll stick it out in the city he grew up in.

About the author

Kai Ryssdal is the host and senior editor of Marketplace, the most widely heard program on business and the economy in the country.


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