The Winners and Losers in Detroit Bankruptcy

The Winners and Losers in Detroit Bankruptcy [Michigan Capitol Confidential]
Overall, the projections on retirement obligations are set to drain city finances.
Payments for pension contributions are expected to increase to roughly one-third of the city's general revenue, according to the city's proposal to creditors.
Note that these are projected outflows of cash necessary to pay retirement obligations.
There also are projected payments on other types of debt.
With these costs included, more than half of the city's general fund revenue is pledged to pay for legacy costs.
Clearly, this cannot stand as it is and the city is seeking to mitigate this burden through cuts to the pensions earned by retirees.
...On the losing end would be state taxpayers.
The state already delivers more money to Detroit than every other city. 
The state has also helped Detroit borrow money that was supposed to bridge the gap between fiscal problems and solvency.
Still, other creditors are not subject to the protections offered to pensioners.
Indeed, some creditors are being asked to take 85 percent cuts in the latest proposal.
So pensioners are being offered levels of protection beyond other creditors.