It depends. This article is about as clear as mud. Hartford is indeed in debt up to its eyeballs, but last I knew it could still make its debt service payments. Now, for long term, bankruptcy is the only way to get a handle on their finances, but this article makes it sound as though the city’s hankering for a bailout instead.
“...this article makes it sound as though the city’s hankering for a bailout instead.”
Exactly. This is what it’s come to...a government waiting for a government to come to their rescue.