…And Help Savors Too
There are many credit facilities that can be tapped to fund infrastructure spending without breaking debt ceiling barriers, and provide income for savors. Some 30 years ago when I was managing director of the government bond department at L.F. Rothschild, I wrote a 43-page booklet called “U.S. Government and Federal Agency Securities.” The purpose of this publication was to inform clients, both domestic and international, about the workings of a primary dealer in U.S. government and federal agency securities. Within this booklet I described how several financing methods were used to fund projects during the 20th Century. This includes “flower bonds” to help fund World War II, United States Postal Service Bonds, New Community Debentures, securities to fund the Tennessee Valley Authority, bonds to fund the Washington Metropolitan Area Transit Authority, and many others.