Article updated: 5/13/2013 4:50 PM

Detroit is broke; could bankruptcy lie ahead?

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A report filed Monday by Detroit's emergency manager said the city is broke and without a massive infusion of cash or severe penny-pinching will be unable to pay for its services, including firefighting. Above, Detroit firefighters battle a building fire.

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The first report by Detroit's emergency manager declares that the city is broke and at risk of running completely out of money — a financial meltdown that could mean no paychecks or pension benefits and even deeper cuts in municipal services.