There are a bundle of insolvent cities in the United States.
Some file bankruptcy, some don't.
We'll get to compare how the residents of those cities fare.
My guess is that the folks who live in Harrisburg will be downright cranky that they didn't file bankruptcy when they had a chance, instead of dithering, and dithering, and dithering, with some dither sauce.
At this point, Harrisburg is facing bond defaults, missed payrolls, and a takeover by the State.
None of those would make me a happy camper if I lived in Harrisburg, I think.
On the other hand, things are pretty rosy, by comparison, in Central Falls. Payrolls are being met, and the bond payments are being met, as well.
Elections will be won or lost in the future by politicians who promise to file, or not file, bankruptcy for cities.
Imagine the campaign speech:
"My friends, if I am elected, I will immediately put this city in a bankruptcy! I promise!"
