01/10/2012 04:58 pm ET

Dillon Sets Early February Deadline For City Budget Deal

State Treasurer Andy Dillon today said Detroit has until the first week of February to present its own plan for fixing its financial crisis, noting the biggest impediment to a city budget deal is retiree healthcare costs.

"If the city and labor are to reach a deal on their own, it should be by early February," Dillon said.

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