In terms of local construction in Replica Designer Belts

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In terms of local construction in Replica Designer Belts

mbtning
the reality is that this line of thinking mode of administration of the current  lack of effective restriction obviously faced extreme moral hazard. Chief  justice Marshall said, tax power is the power of destruction, http://www.nogossipzone.com/ and for a  political credit is not high in terms of local government, to issue bonds are  not a matter of destruction! People think that local governments in local  government debt repayment mechanism still is not perfected, www.aaabelts.ru issue local government bonds  may induce the local government and the central government's fiscal risk, it  makes sense. But if we don't allow local governments to issue bonds, the local  government or incompetent public affairs, or to undertake illegal hidden debts,  this system is obviously not a reasonable choice. The economics of Adam Smith  believed that a democratic government to spend more than an autocratic  government. In Europe and the United States and other countries, the scale of  the local government debt is much higher than the central government. In terms  of local construction in Replica Designer Belts, more need a financial authority  of local government to promote the construction of public affairs, it needs to  be the local government has a good financial resources. Therefore, the local  governments to issue bonds itself as a system, there is no good or bad, is how  to control risk, the risk of the real control key lies in whether the local  governance democracy effectively, it has been proved by most countries. Starting  from this logic, to allow local governments to issue bonds, and in fact the  local government to the financial markets directly to the front, under certain  conditions that local governments have to need to maintain and cultivate their  credit, because only the finance mor www.shopbeltsoutlet.com e  standardized, transparent, good construction project, high efficiency of local  government, its bonds are easily to www.nogossipzone.com send out, and  borrowing costs will be lower. What transparency, good governance and financial  resources rich of local governments to issue bonds is obviously more likely to  get the favour of people, so to some extent, can be used as a measure of local  government bond issuance management level and a transparent index of public  credit, and the market supervision, to some extent and can naturally promote  competition between local governments and government service concept innovation.  Under the pressure of the market, local governments in order to ensure that the  next issue is successful, in the use of bonds to raise funds will naturally  wary, ensure the money is mainly used for infrastructure and other public  products rather than risk areas of competition, prompted the local government  will be taken out in general competitive field and play a role in the field of  market failure is only only provide public products and public services.  Obviously, local government debt real credit rating is not each appraisal  institution, but whether local supervision is powerful and local government  behavior patterns, it is an important measure of local good governance. In the  supervision of the National People's Congress, without the supervision of the  National People's Congress, the trust of the local debt is under a lot of risk