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In this Aug. 26, 2011 photo, a city worker repairs a broken water main in Kansas City, Mo. Cities like Kansas City are taking out fewer municipal bonds making budgets tight for all but the most essential repairs.

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Cities, states back off bonds amid budget concerns

Uncertainty about where their next dollar is coming from has chilled the municipal bond market, meaning American 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.


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