On Jun 21, 2009, at 1:47 PM, Steve at Verizon wrote:
There's a lot of this going on these days, and not just at the Fed level. Many states are selling the rights to the future income from the tobacco settlement and from their toll road tolls. And it's not ideology, just shortsighted desire by both parties for revenue to spend .
This is a consequence of the inability to raise sufficient current revenue through taxation. And that is a consequence of the squealing hogs who insist that mansions and private jets are a more worthy expenditure than taking care of children and the infirm: the Gold as God crowd.
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