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The Federal Reserve should be allowed to make long-term loans directly to cities, states, school districts, and other public agencies so taxpayers can get low-interest rates and avoid predatory Wall Street fees. Currently, banks borrow money at near zero interest from the Fed while public entities are forced to pay billions in fees and interest each year. If the Fed lent directly to cities and states at low interest it would free up taxpayer money for services like education and infrastructure.

Submitted by Saqib Bhatti, Roosevelt Institute Fellow and Director of the ReFund America Project in Government & Elections Dec. 10, 2014, 1:27 a.m.
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1796 votes
Citation: http://www.nextnewdeal.net/let-fed-lend-directly-cities-and-states-save-taxpayers-billions

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