Bankruptcy should allow local governments to renegotiate their bond debt and, perhaps, their retired employees’ pension and health-care costs (that’s up to a bankruptcy judge). The state would be expected to take over essential public services from bankrupt local governments.
破产后地方政府可以重新谈判其债券债务，或许还可以重新谈判退休职工养老金和医疗费用（由破产法官最终裁定）。州政府将从破产地方政府手中接管基本的公共服务。但州政府自身的财政形势也极为严峻，各市所面临的问题之一就是来自州政府的拨款数大幅降低。