Do we have one?
I think it's set to a Zillion dollar limit.Do we have one?
Well according to the Dems, if we don't, the USA as we know it will cease to exist.I think it's set to a Zillion dollar limit.
Yeah.Well according to the Dems, if we don't, the USA as we know it will cease to exist.
I'd like to think there are negotiations going on somewhere in a back room, but I've lost faith in government.Yeah.
Everything Democrat's don't' like will cause the nation to collapse or the world to end.
Gasoline, Gluten, Whole Milk, Cigarettes, Guns, Manners, Civilized behavior, real women.... It's all apocalyptic.
Has any Democrat ever made it their known opinion that they’re for cutting spending (on anything but defense) or for keeping spending down?
Twice in my lifetime two Democrat Presidents have bragged they decreased the deficit or lowered spending but it has each time been RIGHT AFTER colossal emergency spending - Obama after the HUGE spike in spending and it was years before the spending levels approached “normal”. Ditto Biden whose spending levels are atrocious but less than the emergency spending due to COVID.
But basically - they hate to tell the nation they intend to spend responsibly. Just that their evil opponents want to cut their outrageous spending.
Under MMT (Modern Monetary Theory), debt doesn’t matter.
Money doesn’t have value to government. It can’t, since government are the sole issuer of our currency. The federal government doesn’t need to collect our federal income tax $$ in order to spend it.
Yep. Every. Single. One.I may not be an economic scholar but I know from history that nations that continually printed money ended up impoverishing themselves.
I'm reminded of Samuel Johnson reacting to Bishop Berkeley's theory of immaterialism by kicking a rock and saying "I refute him THUS!". All philosophical arguments aside (because the details are intricate), the point made is, maybe you're right, but it doesn't actually seem to WORK that way.
Otherwise, the simplest solution to something like reparations would be to simply print out trillions of dollars and pay every family and make them all millionaires - or to fix all mortgage and student debt by printing enormous amounts of money to accommodate them.
I may not be an economic scholar but I know from history that nations that continually printed money ended up impoverishing themselves.
I'm reminded of Samuel Johnson reacting to Bishop Berkeley's theory of immaterialism by kicking a rock and saying "I refute him THUS!". All philosophical arguments aside (because the details are intricate), the point made is, maybe you're right, but it doesn't actually seem to WORK that way.
Otherwise, the simplest solution to something like reparations would be to simply print out trillions of dollars and pay every family and make them all millionaires - or to fix all mortgage and student debt by printing enormous amounts of money to accommodate them.
I may not be an economic scholar but I know from history that nations that continually printed money ended up impoverishing themselves.
I'll get around to it.Further, looks at the “features” of Modern Monetary Theory: https://en.wikipedia.org/wiki/Modern_Monetary_Theory?wprov=sfti1
It’s all laid out right there.
Office Space?I'll get around to it.
But on the surface of it, it sounds like we could make everyone in the nation outrageously rich simply by printing millions of dollars for everyone, and I know that practically, it's not possible. You can't make a nation full of rich people by putting more currency into supply.
It's one thing to theoretically postulate that currency is largely a nuance of government policy - in small doses it absolutely is.
From what I can grasp, increasing the money supply devaluates the dollar, but it devaluates it EVERYWHERE - every bank, every bit of savings, every debt owed, every dollar held or owed abroad and devaluating another 1 or 2% of every dollar everywhere on the planet doesn't "hurt" much. What movie was that, where they shaved off a fraction of a penny off every transaction, to eke out a fortune?
I also "get" that in an economy with a small but predictable inflation, deficit spending is good management, because you pay off today's debt with tomorrow's lesser valued dollars.
But we have never had a Congress that values responsible and intelligent money management. As a friend once cautioned me about sharing a checking account with a spendthrift - it's not about being responsible, it's about spending it FIRST.
I'll get around to it.
But on the surface of it, it sounds like we could make everyone in the nation outrageously rich simply by printing millions of dollars for everyone, and I know that practically, it's not possible. You can't make a nation full of rich people by putting more currency into supply.
It's one thing to theoretically postulate that currency is largely a nuance of government policy - in small doses it absolutely is.
From what I can grasp, increasing the money supply devaluates the dollar, but it devaluates it EVERYWHERE - every bank, every bit of savings, every debt owed, every dollar held or owed abroad and devaluating another 1 or 2% of every dollar everywhere on the planet doesn't "hurt" much. What movie was that, where they shaved off a fraction of a penny off every transaction, to eke out a fortune?
I also "get" that in an economy with a small but predictable inflation, deficit spending is good management, because you pay off today's debt with tomorrow's lesser valued dollars.
But we have never had a Congress that values responsible and intelligent money management. As a friend once cautioned me about sharing a checking account with a spendthrift - it's not about being responsible, it's about spending it FIRST.
As a side note, question - do you see a huge middle class as a desirable trait?Obviously there are fairly extreme outcomes of this method of economic planning, but many will suggest that this is the reason for the huge middle class in the US, for better or worse.
As a side note, question - do you see a huge middle class as a desirable trait?
Doesn't she drive an Escalade, too?The federal government is like that woman with a fancy manicure, a new cellphone, and a heroin addiction whining that she can't afford to feed and shelter her children.