- Bond (in the context of government, not Chemistry)-"a certificate of debt (usually interest-bearing or discounted) that is issued by a government or corporation in order to raise money; the issuer is required to pay a fixed sum annually until maturity and then a fixed sum to repay the principal"
A bond sounds great, and we'll approve bonds easily to fund Austin schools. What about debt? Would we approve debt? I don't think we would as regularly, which is why politicians resort to such political rhetoric to pass thier proposals.
Read this article by my good friend Thomas Umstattd about why the federal government shouldn't be borrowing and how we've got ourselves in a load of trouble because of it.