User 328725

The Fed Needs to Create a Local Government Lending Facility

I can understand why you might think a swimming pool and tennis courts would have an elitist image, but in this case you're mistaken.

If you go to a NYC public pool, you will only working class families using the facilities. The same with tennis courts; it's the people in lower income brackets that use the public ones.

The facilities are far from fancy.

Bur very little of the spending goes there anyway. The really important quality of life issues have to do with education, healthcare, police, sanitation etc. We can't afford to cut back on essential services so local governments need properly working credit markets.