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    Issued Outstanding Debt

    What this means: Governments do not always have cash on hand to pay for large projects, like new roads or buildings, or even to make scheduled payments. Like households, governments borrow to pay for larger expenditures or to address cash flow problems.

    Source: Michigan CAFR, U.S. Census, Michigan Dept. of Education

    Note: Information for Local Governments only available through 2010 and information for School Districts only available through 2011.


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