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Detroit on track for financial crash

from Detroit Free Press

Detroit's public schools are almost run aground on $3.5 billion in debt and long-term liabilities, all of which threatens insolvency. That's the state's largest district, charged, at present, with educating 46,000 kids. By April, reports predict, it will be out of cash. And yet the prospect of keeping the district afloat apparently remains a political tough sell in Lansing, despite the fact that the district has spent most of the last 16 years under state oversight. more

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