When we take out a hundred in cash and walk the town, we pay one dollar in inflation, ultimately. Bu we know why. That is the unhedged government wobble. Or, it really is governors forgetting to get their share to balance the known wobble. It is up to them to understand, the wobble not hedged is paid with double spending, and be a little more intelligent about judging these national programs. Especially make sure revenue sharing set asides are ex ante. There is no Godot ex post.
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