what is the debt of detroit
Observers have ruminated on the potential value of the works at the Detroit Institute of Arts, the city's collection of classic cars, even its zoo animals. But the sale of any of those assets would just be a drop in the bucket. At $18 billion, Detroit's staggering debt is simply a lot to wrap one's head around. Even the city couldn't fully comprehend the magnitude, it seems, until Emergency Manager Kevyn Orr actually went ahead and filed for Chapter 9 bankruptcy. How could a city of 701,475 people rack up $18 billion in debt?