Many people see bankruptcy as a relief to problems. However, when a governmental body or a person or a business declares bankruptcy, one or more people do not get paid for their labor or supplies. This may result in further bankruptcies. Businesses cannot survive while losing money. Most people cannot afford to work and not get paid. When a city declares bankruptcy, that city loses businesses, workers and their families and investors. That's a bad cycle.
It is important to note that the cities recently declaring bankruptcy are Democrat-controlled areas. One should also acknowledge that many Democrat-controlled cities and states are among the poorest in our country. Yet, the people continue to put Democrat leaders in control of those places. Year after year, they elect the same type of leaders, so the poverty continues. Would they rather get a handout than a hand-up? The best charity is to give a person a job, not money.