Time to Kill Build America Bonds (BABs)

This is actually a huge subsidy to the state and local governments (which largely passes-through to foreigners) to keep them from defaulting a little while longer. And it isn't being used to "build America" -- rather, to take pay for normal infrastructure maintenance and operation of municipal services, in lieu of states and localities actually balancing their budgets. On the other hand, if you're in favor of printing money to keep things afloat and handing additional power to the federal government, you should hope BAB gets extended! We will see if Congress has the willpower to pull the plug...