Dispelling a myth

What Is the Role of a ‘State Bank’ in the WA State Treasurer’s Race?  Pt. 2 / Dispelling a myth / 10.19.20 / Proponents of the Public Bank believe that State and local Gov’ts leave large cash balances in big Wall Street Banks.  This is not true. /   Our State and local gov’t cash managers are educated and trained to maximize investment earnings by investing idle cash in short term investments. /   Longer term investments are made based on cash flow needs but are usually 5 years and shorter. /   Most taxpayers would question why a taxing authority would have funds to invest out longer and continue to tax the citizens each year. This is rare and for specific funding reasons such as tied to debt payments.

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