Wednesday, September 15, 2010

That $50 Billion Infrastructure Plan

by Michael Hudson from his blog

God knows the US needs its crumbling infrastructure overhauled, but the ruling capitalists are going to make sure that they profit from it. Who better to lead this effort than the pseudo-populist Obama?
...instead of funding transportation out of tax proceeds (levied progressively on the wealthy) or by the central bank monetizing public debt, the Obama plan calls for borrowing $50 billion at interest from banks.