State public banks, an old American tradition, may provide an - TopicsExpress



          

State public banks, an old American tradition, may provide an important tool to pull states out of the current economic slump. The concept is simple: The public bank uses state funds on deposit as bank reserves for making loans for infrastructure and other projects to Improve the states economy and grow jobs. Ben Franklin argued that colonial Pennsylvanias public bank was the key to the colonys 18th century prosperity. North Dakota, whose public bank has operated since 1919, boasts the lowest unemployment rate in the country and is the only state to have a balanced budget in each of the last three years. youtu.be/xiYaEIwbwbg
Posted on: Fri, 16 Jan 2015 22:01:09 +0000

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