Stateside for Tuesday, July 30th, 2013
Still not sure what the Affordable Care Act means or what it does or doesn’t do? You’re not alone. Politics aside, we took a closer look at Obamacare and what it all means for you.
And, the unseasonable cool weather in Michigan is probably good for you, but not so good for the crops. Meteorologist Mark Torregrossa joined us today to talk about what is causing it.
And, a Detroit native joined us today to tell us how he sees the city's bankruptcy as a new opportunity.
Also, the fourth annual Upper Peninsula book tour is about to begin. We spoke with a couple Michigan authors who will be participating.
First on the show, by now you’ve heard a bit about Detroit’s Chapter 9 bankruptcy filing. About half of Detroit’s nearly $20 billion in debt is due to shortfalls in the funds for retiree benefits. According to emergency manager Kevyn Orr’s estimates, the pension funds are behind by about $3.5 billion. Unfunded health care obligations are pegged at about $5.7 billion.
Detroit is not unique in its unfunded pension and retiree health care obligations. Other municipalities in the state are also behind.
Anthony Minghine is the chief operating officer of Michigan municipal league. He joined us today.