Since 2008, the issuance of general obligation debt guaranteed by local governments in New Jersey has almost tripled, according to a report by Moody’s Investors Service.

In 2008, the amount of guaranteed GO debt issued was 7.9% of all New Jersey local government issuance rated by Moody’s. In 2009, that percentage climbed toward 30% before dropping down to about 20% in 2010, and then up to 23.7% in 2011.

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