Banking On Our Country
by Frank Sanitate
Posted July 17, 2017
Public Bank advocates are ready to help Santa Barbara County take a deeper look at the Public Banking Solution. Officials are eager to find a realistic way to deal with their budget short-fall. Others are curious about what kind of non-taxed-based revenue a public bank could generate that might be used to pay for crucial public services, and things like affordable housing so that their teachers, law enforcement officers, fire fighters and other key employees can live closer to where they work.
Currently our County Board of Supervisors is trying to resolve an anticipated $30 million budget shortfall. They – and virtually all other city, county, state and national governments — continue to try to resolve the problem in the same old boring ways. They cut services and jobs, or increase taxes. But there is a better way to solve the problem, one that’s been around for almost 100 years, but virtually unknown – increase revenues through creating a “public bank”. More…