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Another issue not mentioned is municipal bonds. City governments are addicted to debt. Municipal debt is probably larger than unaccounted municipal infrastructu
by alexmingoia 6y ago
Another issue not mentioned is municipal bonds. City governments are addicted to debt. Municipal debt is probably larger than unaccounted municipal infrastructure costs.
Municipal debt was almost $4 trillion in 2016. That's insane. Eventually it's the Fed that will monetize municipal debt. It's just part of the larger public debt problem.
- clairity 6y agomunicipal debt can pencil out positively, so debt by itself isn't necessarily bad. critique the debt in light of the financial case behind it, not in isolation. good bills/measures should absolutely be backed with debt if they are at least revenue-neutral and provide broad and outsized positive social dividends. anything that's revenue-negative should be funded by taxes, or not funded at all.