Sunday, February 13, 2011

Red State Socialism Works

North Dakota's got its own state bank. The state's in the black, not slashing services left and right.

It doesn't bar commercial banks, indeed, it works with them.

It gets to recycle the interest in municipal and other government bonds, bonds so expensive the state university system pushed through a ballot measure allowing them access to marginally less expensive bonds.

Government bonds have driven many city and county governments into bankruptcy and cost Oregon billions annually, money we could recycle locally.  

Why not?


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