Looks like Detroit's not gonna be able to crawl out of their toilet easily

LINK

The kind of budget at this level is well beyond my ability to understand however I would think that if the city owes me money, I'm gonna have to basically take what I can get out of it and cut my losses (this includes everyone from bondholders to pensionholders). The whole thing sucks and I'm curious to see how this works out. It's not like they can just print their own currency to pay their debts or reset everything to zero.