02/28/2013 08:06 am ET Updated Apr 30, 2013

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

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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