Cities, states back off bonds amid budget concerns

Monday, September 5, 2011 | 12:01 a.m. CDT; updated 4:10 p.m. CDT, Thursday, September 22, 2011

JEFFERSON CITY — Uncertainty about where their next dollar is coming from has chilled the municipal bond market, meaning cities and states will be breaking ground on fewer public works projects, canceling or delaying projects worth tens of billions of dollars and providing yet another blow to economic-recovery efforts.