, Columnist
The Bonds That Can Cure America's Ills
A lot of what ails the U.S. can be fixed by refinancing debt at today's low rates and issuing new bonds to finance repairs of crumbling infrastructure.
The potholes are getting bigger.
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Every once in a while, there is a way to resolve a host of problems that is so obvious it gets overlooked.
With that in mind, and in light of yesterday’s Federal Open Market Committee meeting and the reaction that followed, let’s have a look at four big problems: crumbling U.S. infrastructure; federal budget deficits; normalizing U.S. monetary policy; and the shortage of investment-grade debt.