Oral arguments in the largest Chapter 9 case in history drew to a close yesterday, with Connecticut's attorney general saying that Bridgeport's fiscal problems do not justify a bankruptcy filing.

"Much can be done that doesn't involve tremendous tax increases or deep cuts," said Richard Blumenthal, the state's attorney general, speaking in U.S. District Cout in Bridgeport. He contended that the city does not need bankruptcy to avert a projected $16 million gap between now and the June 1992 end of its current fiscal year.

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