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PaulHuff, thank you for providing that information. It's clear that many people think "bankruptcy" is the solution, and are under the mistaken impression that the city can just "start over."

As your link shows, there are different levels of state intervention -- and none of them resemble bankruptcy in the classic sense.

The city can't just stop paying salaries and benefits, or retiree benefits that are part of already-negotiated contracts.

What I have seen in other places, though, is renegotiation of retirement benefits that lower future costs (I think Cranston did something like this recently).

But that's something the current mayor and council should already be working on, instead of being forced to do it by the state.

Ultimately, that is the choice in front of them: Handle the issue locally or have the state do it for them.