“We realized the city feels it will be vital to increasing the desirability of downtown,” said Amy Laskey, an analyst at Fitch, in a phone interview. “The city already operated on a thinly balanced budget, so the debt does increase the risk for the general fund.” The new bond issue is structured with reserves and revenue projections that exceed what is needed to cover payments to investors to protect the city’s general fund, said Dickens. “The convention market would have to seriously go to pieces before we would need general fund dollars,” Dickens said. “A lot of conventions like to come here because of our reputation as a music city.”

We are a nation of borrowers, not savers, and therefore we will have no tolerance for a multi-decade deflationary recession that favors savers. We will pressure our politicians to "do something." Caught between the rock of debt and a hard place of slower growth--and unable to imagine transcendence in tax and budget cuts--our Washington geniuses will give us inflation.

Late last week, the Centers for Medicare and Medicaid Services approved plans for Colorado's hospital tax almost one year after state legislators passed the law, reports the Denver Post. Gov. Bill Ritter signed House Bill 1293 on April 21, 2009, authorizing collection of the hospital provider fee.

The Consumer Protection Agency might be a nice way to provide some education about finance to the average American, and help to reduce fraud, and increase transparency in consumer contracts,. However it had less to do with the cause fo the crisis than many other factors. Reducing leverage, re-regulating derivatives, maintaining adequate capital, separating insured deposits from more speculative activities are much more important.