The TIAA-CREF Municipal Bond Team examined the security for the bond as well as the economic and financial condition of the borrower and determined that Sam Rayburn was a stable credit that simply did not need to maintain a higher rating.

FORBES: Muni Bond Manager's Journal: Looking For Real Value

We have trillion dollar federal budget deficits, state and municipal governments reeling from budget woes, and Social Security and Medicare programs approaching insolvency.

FORBES: Government Should Exit Higher Ed

If such plans did not exist, who would pick up the tab for those baby boomers looking to retire soon, especially considering that private pension plans are going away, Social Security is nearly insolvent, and public pension plans are severely underfunded and mismanaged by state and municipal governments?

FORBES: # 3 Romney wants to get rid of the estate tax