A.G. Bill Schuette · @SchuetteOnDuty
27th Jul 2013 from TwitLonger
My statement on joining the City of Detroit federal bankruptcy case in defense of Southeast Michigan pensioners who may be at risk of losing their hard-earned benefits and our Constitution: “The City of Detroit’s bankruptcy will cause even greater hardship for many people in Southeast Michigan who are already struggling. Detroit's $20 billion indebtedness is simply staggering. Equally staggering is the financial uncertainty of pension benefits relied upon by Michigan seniors living on fixed incomes and anticipating a safe and secure retirement after a lifetime of work. Retirees may face a potential financial crisis not of their own making, possibly a result of pension fund mismanagement. Michigan’s constitution, Article 9, section 24, is crystal clear in stating that pension obligations may not be 'diminished or impaired. As Attorney General, I will defend the rights of Michigan citizens and defend the Constitution of the State of Michigan."