[Col Frank Slade]

Incredible.

[McGavin999]

So all those people who provided goods and services to the city will be filing bankruptcy shortly after that. Most can not afford to receive pennies on the dollar.

[I want the USA back]

Malloy is not running, so he doesn’t care. His replacement will have a big problem to deal with.
The dems will use this to suck money from the surrounding towns.
Suburbs, prepare to pay for Hartford’s failures.

[qwerty1234]

Just read in another article that Hartford is one of many cities that is trying (or will be) to attract Amazon for their new HQ2....guess not being able to balance a budget and/or pay your outstanding debts does not bode well for a big company to want to locate there - not to mention CT’s oppressive taxes.

[LurkedLongEnough]

“We’re running out of money, you need to pay more”

[picture of world’s smallest violin for Malloy, Murphy, Himes to play at next town hall]

[cgbg]

This is an easy problem to fix for both the city and the state—all that it requires is political courage.

Malloy and Bronin just need to hold a joint press coverage and announce that Hartford and other CT cities have revoked their sanctuary city status and will turn over all illegal immigrants to the INS.

That will save the state one billion dollars a year.

They will _never_ do it. They would rather declare bankruptcy.

The bond-holders should demand it—no negotiations until it is done!

[Flick Lives]

Found this chart showing the money Hartford owes for debt service. The near-term drop in liability was by restructuring debt to push required payments into the future. Sort of like a homeowner getting an artificially low mortgage now with a giant ballon payment due in the future.

And with Hartford that "future", along with the ballooning debt payment, has arrived. (Can you repossess a city?)

[Jim from C-Town]

Connecticut is every bit as bankrupt as Hartford. What are they waiting for?

I’l tell you. Federal bailouts to protect them from their own profligate spending habits.

You can not pay people pensions for thirty or more years at a higher wage than they made on the work that between 20-30 years. At some point the private sector worker can be taxed no higher and they flee or simply stop working.

[9YearLurker]

All those local government employee unions who milked outrageous benefits from their municipalities need to take massive haircuts. Unions for government workers are unconscionable and what is bankrupting our local governments.

[Moonman62]

Those wacky, fun loving Democrats.

[Lurkinanloomin]

CT used to be one of the wealthiest states.
Then they decided they liked fraudulently documented foreigners more than the citizens.......