Philadelphia & The $4.5 Billion Bond

In a former post I listed out a summary of Mayor Nutter's proposed budget. In it was mentioned a $4.5 Billion Bond that would be used to pay for the city's pension fund (which we currently can't afford).

What is a Bond?

What is involved when the city borrows this much money?

Is it a good idea?

Ben Waxman of WHYY has a great article on these questions at "The Next Mayor Blog".

Follow this link to read the article.