This is a great read about how states deal with budget woes. Unlike the Feds, states can't print their own money. For an economy the size of a large country, California should look to a State owned bank for providing funding for infrastructure and other projects that otherwise require cash or expensive bond measures. Another benefit for California owning it's own bank is to remove the middle man or Banksters as I call them from Wall St.. The same folks that regularly crash the economy due to their greed. North Dakota already has one and it was virtually unaffected by the last Wall St. Crash in 2008-2009.
Banks and Republicans would scream "socialism" if California tried it. A U.S. National Bank as Abraham Lincoln proposed would solve that problem. But then again, we're trying to start Lifeline Native Bank as part of our Inter-Tribal Heartlands Project for helping Native Americans.
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