***The Iowa Standard is an independent media voice. We rely on the financial support of our readers to exist. Please consider a one-time sign of support or becoming a monthly supporter at $5, $10/month - whatever you think we're worth! If you’ve ever used the phrase “Fake News” — now YOU can actually DO something about it! You can also support us on PayPal at [email protected] or Venmo at Iowa-Standard-2018 or through the mail at:
PO Box 112
Sioux Center, IA 51250
On Feb. 29, U.S. Senator Rand Paul (R-KY) forced a Senate vote on his amendment to a temporary government funding bill that would prevent government bailouts of mismanaged states across the United States.
Dr. Paul’s amendment prohibits the Federal Reserve from purchasing or selling state and municipal debt. Additionally, it prevents the central bank from circumventing Congress to unilaterally provide a financial bailout of profligate states, the costs of which would be borne by the taxpayers through the form of forced subsidized losses or through the hidden tax of inflation.
You can read Dr. Paul’s amendment HERE.
