In One Chart: American cities and states have issued $72 billion of pension bonds. Here’s what that means

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State and local governments may think that issuing debt to pay down their unfunded pension liabilities is a good idea, but there are lots of reasons to be wary of the practice.

State and local governments may think that issuing debt to pay down their unfunded pension liabilities is a good idea, but there are lots of reasons to be wary of the practice.