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But if property values do not rise and create money for new investment, TIFs are virtually powerless to spur growth.
She accused Father Cahill and the university's current president, the Rev. Donald J. Harrington, of using her to "create money for them for their personal gain".
"If I had a magic wand, I'd wave it and create money for health care policy, but I don't," he said.
It can create money, for one thing, without being limited in its monetary expansion by the reserve requirements that bind ordinary banks.
But the existence of ICBs (Independent Central Banks) made money financed fiscal expansions impossible when you had debt obsessed governments, because neither the government nor the central bank could create money for governments to spend or give away.
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On Tuesday the Fed's policy-making committee did what most market analysts expected; it deferred the decision on whether it should begin a big new push to speed the recovery by creating money for large-scale purchases of Treasury securities, a strategy known as quantitative easing.
There's a new study out that says having tax dollars go towards free cell phones for the poor actually creates money for the economy.
"The beauty of creating money for nothing is there is no limit to how much the Fed can create".
To do this, it will essentially create money from nothing, paying for its purchases by crediting the reserve accounts of the banks from which it buys them.
Now, the central bank will simply exercise its power to create money outright for use in the public and private sectors.
Further cuts to maternity pay will create money worries for families that can increase the risk of postnatal depression and broken relationships, a leading charity has warned in a letter to David Cameron and Nick Clegg.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com