I guess he doesn’t want municipalities to fund projects like schools, fire departments, hospitals. It will be kind of hard to fund projects when investors have no incentive to invest.
Epic dunce and moron.
Bingo! If states and cities are less dependent on themsleves, they will be more dependent upon the federal government. That’s the plan.
Why would you assume that local pols are borrowing responsibly? I haven’t seen any evidence of that - and there isn’t any. It is hilarious that Obamalini wants to cut-off the local turkeys from pursuing their boondoogles. That will make them want to get their machines in gear for him next November ;-)
But The Sun King and his cronies will get a piece of all such projects from now on via their "Infrastructure Bank", and that's what's important.
The "Infrastructure Bank", if it ever comes to pass, will be the most massive boondoggle of all time. It will dwarf TARP, Porkulus, the S&L debacle, everything.