Detroit County’s Armageddon Warning Heeded as Jail Bonds Tumble
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As Detroit emerges from a record bankruptcy, its home county faces a fiscal crisis that’s jolting bondholders and leaving officials struggling to avert a state takeover.
Three months after Wayne County Executive Warren Evans warned of possible “financial Armageddon” in the face of a looming budget deficit, he’s proposing to reduce wages while ending health-care benefits for future retirees and trimming their pensions.