From World Socialist Web Site - February 4
Last week, the Detroit news media leaked parts of the restructuring plan that Emergency Manager Kevyn Orr is set to implement in the largest municipal bankruptcy in US history. Euphemistically called a “plan of adjustment,” it outlines a savage assault that will set a precedent to escalate the attacks on the working class throughout the US and internationally.
The plan includes ending medical benefits for 23,500 retired city workers and forcing them onto Medicare or Obama’s private insurance exchanges. Retirees will also see their already meager pension checks slashed as the city reduces payments to pension trust funds by as much as 75 percent.
Orr is organizing a fire sale of public assets, including the Detroit Institute of Arts and the municipal water and sewerage system, to pay off the Wall Street banks and other wealthy creditors who control the city’s debt. The elimination of 700 of 1,700 jobs at the water department is only the down payment on the massacre of city jobs to come.