DETROIT, MI – JULY 19: Michigan Gov. Rick Snyder (L) and Detroit’s emergency manager Kevin Orr (R) address Detroit’s bankruptcy filing at a news conference July 19, 2013 in Detroit, Michigan. Detroit’s emergency manager Kevin Orr made the Chapter 9 filing yesterday. Detroit owes its approximately 100,000 creditors between $18 and $20 billion. (Photo by Bill Pugliano/Getty Images)