Re: Measure 48 could give Oregon the nation's fastest economic growth

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Article #1864

#1864

From: lein
Date: Thu, 24 Aug 2006 04:01

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Don Homuth wrote:
> On 23 Aug 2006 13:37:43 -0700, "lein" <boomer_the_cat@my-deja.com>
> wrote:
>
> >
> >Paul J. Berg wrote:
> >> What if Oregon could enjoy the fastest economic growth rate of any state
> >> over the next five years? What if, over the next two years, Oregon could
> >> build a rainy day fund in excess of $2 billion to help cushion
> >> inevitable economic downturns?
> >
> >A rainy day fund isn't necessarily a good thing.
>
> Depends on what you do with it.
>
> >  It would allow a
> >government that becomes bloated and unresponsive to maintain status quo
> >and avoid necessarily reorganizations.
>
> No reason to assert that would necessarily follow.  A cash pool
> doesn't require that outcome.

There is no incentive to reform and regain efficiencies.


>
> >Also, a pot of $2 billion just sitting there will soon become a pot of
> >$2billion worth of IOUs.
>
> First off, it won't just sit there.  That would be a Really Stupid Way
> to manage any large cash pool.  It will be held in banks as a part of
> their reserve, and from which they will loan money, but they will be
> required to redeem the loan from the State on demand.
>
> Modern cash pool management techniques are probably unknown to you,
> but they do exist, to the general benefit of taxpayers.

Actually I'm quite aware of large cash pool management techniques and
politicians.  The Feds call it social security.   It's AlGores lock box
that holds billions in IOUs.

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From: "lein" <boomer_the_cat@my-deja.com>
Newsgroups: pdx.general,or.politics,alt.politics,co.politics
Subject: Re: Measure 48 could give Oregon the nation's fastest economic growth
Date: 23 Aug 2006 21:01:51 -0700
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