State Exaggerated Detroit's Money Woes, Pushed Emergency Financial Manager, Mayor Hopefuls Say

Detroit's Debt Is Exaggerated, Says Mayor Hopefuls
From left, Ronald Goldsberry, independent consultant, Frederick Headen, Legal Advisor for Michigan Department of Treasury and Michigan State Treasurer Andy Dillon speak at a news conference in Detroit, Tuesday, Feb. 19, 2013. (AP Photo/The Detroit News, Ricardo Thomas)
From left, Ronald Goldsberry, independent consultant, Frederick Headen, Legal Advisor for Michigan Department of Treasury and Michigan State Treasurer Andy Dillon speak at a news conference in Detroit, Tuesday, Feb. 19, 2013. (AP Photo/The Detroit News, Ricardo Thomas)

Two Detroit mayoral candidates have accused the state and its review team that declared the city to be in a financial emergency of deliberately inflating the city's debts to make the case for appointing an emergency financial manager.

Lisa Howze, a former state representative and certified public accountant, presented Wednesday her analysis of Detroit's finances. She said Detroit's immediate debts and liabilities amount to about $2 billion, a figure she said is manageable without an emergency financial manager usurping elected local control of the city.

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