Explore More

Detroit's debts are a fraction of the $18bn lawyers pushing for bankruptcy say they are, and their costs are "irrelevant, misleading and inflated," according to a report released Wednesday.

A former Wall Street investment banker is taking Detroit Emergency Manager Kevyn Orr to task for blaming the city’s financial collapse, in part, on escalating pension and retiree health insurance costs.

Declining revenue, a drop in employment and large, risky Wall Street deals are the real causes of Detroit’s bankruptcy, according to a report by Demos, a liberal public policy organization. Pension debt gets a bad rap in Detroit, but it isn’t the true cause of Detroit’s financial problems, said

The official story about Detroit goes something like this: Decades of mismanagement and out-of-control spending have left the city with a crushing $18 billion in debt.

(NEW YORK) – Today, the Senate voted to put an end to one aspect of Washington’s gridlock by changing the rules governing the use of the filibuster for executive-branch appointees and most judicial nominations. Senate Republicans most recently filibustered three qualified judicial nominations to the

Pension fund liabilities are not to blame for Detroit's descent into Chapter 9 bankruptcy protection, according to a report released Wednesday by Demos, a public policy advocacy group. Detroit's bankruptcy was caused by a decrease in tax revenue due to a population decline and long-term unemployment

At the new Walmart superstore in the Chinatown district of Los Angeles, a Thanksgiving turkey costs a little over $30 (£19). The shop is kind enough to distribute ready-made holiday shopping lists to its customers, reminding them to buy cornbread mix and cranberry sauce, ground ginger and pumpkin

On Wednesday, Walmart workers called out or walked off the job at seven stores in Dallas, according to OUR Walmart activists, the group that has been organizing strikes and protests against the company. The company says that these were not independent actions but the result of activists being bussed

Wall Street bankers, bad decisions made by elected officials and the Great Recession should be blamed for contributing to Detroit's fiscal crisis -- not the pensions of workers and retirees.

Walmart is coming under fire for shortchanging its own employees.