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Warwickvoter,

You're right one of the problems with bankruptcy is that municipalities have to dig the hole so deep their shovel breaks before they're eligible for receivership. Bankruptcy wipes out the contractual obligations of pensions, OPEB & current contracts. Merolla was clear that even using max tax increases Warwick can't keep up with the pension & OPEB obligations. Forget about the other obligations of running a city. I think the state just gave Central Falls retirees $2,500 for two years to help them bridge the 50% cut to their pensions. Wiping out our debt will be worth it. It's unfortunate that many decent people will be hurt. Our schools have half the student population from the peak. Warwick had more residents 50 years ago. Warwick has many physical & geographic advantages. Once we fix our finances we will become a desirable city to move to. Currently we are not. I do hope that anyone that is guilty of defrauding the city are convicted & given the justice they deserve, whatever that is.