Look Out Taxpayers! Bond Bombs Are Dropping!

Taxpayers across the country have been stuck with the tab on several bonds. Basically, they have to pay when certain enterprises can no longer pay their debts. So how did this happen? Typically, officials sign taxpayers up unknowingly to backstop the bonds of independent authorities, the special bodies of government that run projects like toll roads and power plants. The practice, once initiated to save the government money, is now causing big problems for many cities.