You have to give Detroiters a lot of credit.
They voted, by overwhelming margins, to accept major cuts to their pensions. In what was most surprising, nearly 90% of city retirees also voted to give up 90% of their health care benefits. They voted to make sacrifices in their old age to give their city a chance at a future, something that we should find pretty admirable.
Now, granted, they had a gun to their heads. They were told to take this deal, or something worse would be imposed on them, but they could have raged against the machine, and didn’t.
In fact, they weren’t even obligated to approve the health care cuts, though they probably couldn’t have stopped them.
People love to bash Detroiters, but throughout the years, they have stepped up time and again, voting to tax themselves when told they had to do so to save the city; voting now to accept new painful sacrifices.
Meanwhile, four classes of the city’s hugest creditors voted no on settlement offers made to them, and so further court battles lie ahead.
All of this is bound to overshadow another story today that in the long run may be as meaningful for our future.