Finance Geek

State and local governments have caught bailout fever and are asking taxpayers to clean up their messes. And with trillions in underfunded public pensions, the messes are colossal.

Officials from state and local governments apparently feel left out of the $750 billion bailout package passed by Congress and signed by the president last month. Now they’re angling for a share, complaining that the markets for government debt used to fund states, counties and municipalities are drying up.

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