Detroit Has Just 9,700 Workers but 21,000 Retirees Drawing Benefits

Is this Chicago's or Illinois' future?

Detroit’s pensioners are right.

The city’s financial problems aren’t their fault, nor is the city’s deep budget hole caused by the checks it issues to retirees, most of whom get about $1,600 a month.

But it is true that the funds are not generating enough income to keep pace with the projected number of retirees and structural costs of the system over the next 30 years.

So why is this a problem now?

Read more.

Order my new historical novel, Madness: The War of 1812, from Amazon 

To subscribe to the Barbershop, type your email address in the box and click the "create subscription" button. My list is completely spam free, and you can opt out at any time.

Filed under: Chicago

Tags: Detroit financial crisis

Leave a comment

  • Advertisement:
  • Advertisement:
  • ChicagoNow is full of win

    Welcome to ChicagoNow.

    Meet our bloggers,
    post comments, or
    pitch your blog idea.

  • Visit my new website

    I'm a freelance writer, editor and author. I can help you with a wide variety of projects. Check out my new website at www.dennisbyrne.net

  • Subscribe to The Barbershop

    Enter your email address:

    Delivered by FeedBurner

  • Dennis Byrne’s Facebook Fan Page

  • Like me on Facebook

  • Our National Debt

  • Twitter

  • Tags

  • Recent Comments

  • /Users/dennisby/Desktop/trailer.mp4
  • Latest on ChicagoNow

  • Advertisement: