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Flint Manager Warns of Bankruptcy Over Retiree Cost: Muni Credit

Flint may be Michigan’s second city to plunge into bankruptcy unless retirees accept cuts in health benefits that threaten to unravel a balanced budget, emergency manager Darnell Earley said.

The specter intensifies the conflict over finances in the city of 100,000, which twice has been under state control. Like Detroit, which in 2013 filed the largest U.S. municipal bankruptcy, Flint has struggled with loss of population, jobs and revenue. The birthplace of General Motors Co. has only half its population of 1960.