Detroit filed for the largest municipal bankruptcy in the history of the U.S. on Thursday, July 18, 2013. The Motor City is approximately $18.5 billion in debt, at last estimate. And it simply cannot raise enough revenue to meet its current obligations, Michigan Gov. Rick Snyder told Reuters on Friday.
But Detroit’s financial woes are not a recent phenomenon -- the city has been in a steady state of decline for years now. Check out this infographic to see the story of Detroit’s long, steady decline:
Detroit’s bankruptcy filing was just the kicker to a long and steady decline.
Lisa Mahapatra
