Memphis Mayor Rejects Comparisons To Detroit - NewsChannel5.com | Nashville News, Weather & Sports

Memphis Mayor Rejects Comparisons To Detroit

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MEMPHIS, Tenn. (AP) - Memphis Mayor A C Wharton Jr. has rejected comparisons between his city and Detroit, which has become the largest U.S. city to file for bankruptcy.

Wharton told reporters Friday that Memphis was not in denial about its budget problems, which led the state comptroller to warn the city that its practice of delaying debt payments could lead to serious financial issues and possible state action.

Wharton said the city's pensions were adequately funded. He said a budget passed in June was dealing with long-term debt payments.

Wharton said it was frustrating to be compared with Detroit, whose decline has been blamed on a long, slow decline in population and auto manufacturing. Wharton said Memphis has done a good job of attracting new businesses.

(Copyright 2013 by The Associated Press. All rights reserved.)

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