Cook onion in oil in a 2-quart heavy saucepan over moderate heat, stirring, until softened. Add garlic and cook, stirring, 30 seconds.
Add bulgur, broth, and water and bring to a boil. Reduce heat and simmer, covered, until bulgur is tender and creamy (like risotto), about 20 minutes.
While bulgur is simmering, cook bacon in a skillet over moderate heat, stirring, until crisp, then drain on paper towels.
Stir spinach into bulgur until wilted, then stir in Parmesan, half of bacon, and salt and pepper, to taste. Serve "risotto" sprinkled with remaining bacon.
Recipe courtesy of Gourmet Magazine