Detroit Hits Bankruptcy
Detroit Bankruptcy announcement has officially made detroit one of the largest cities to hit bankruptcy. Detroit isn’t the only city that has turned to bankruptcy; New York City, Cleveland and Philadelphia have also had their history of claims as well. Although it is said that Detroit is already making a comeback and that business is in motion to boom back, the poor in Detroit will be the ones to face the consequences of its fall out. 60% of children in Detroit currently live in poverty and with a population of 700k it is certain that many will feel the pain of Detroit’s bankruptcy.
Who will feel it most the business or the consumer?