Simplify the following text for a Grade 7 native English-speaking person.
Original: In 1975 , the city government faced imminent bankruptcy , and its appeals for assistance were initially rejected , summarized by the classic October 30 , 1975 New York Daily News headline as `` Ford to City : Drop Dead '' .
Simplified: On 30 October 1975 , the New York Daily News reported the event with the headline as `` Ford to City : Drop Dead '' .