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#debt

6 posts4 participants1 post today
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DrALJONES

2.

Re the debate: "Should the U.S. federal government make reducing the national debt a fiscal priority?"

Today's fed "debt" is entirely different from household debt. Fed "debt" isn't borrowed, so isn't repayable.

The US tried paying down the so-called"debt" seven times in its entire history.

The first 6 times resulted in a depression (first image)

The seventh time (Clinton) resulted in a recession (2nd image)

#mmt #uspol #useconomics #debt&deficit #ukpol #auspol .

Table of depressions following 6 debt pay downs
Graph showing Clinton's Paying Down the Debt resulted in resession
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DrALJONES

A revolution that doesn't know how govt money works? Pls help to spread this info:

An intellectual demolition of Steve Moore, economic mouthpiece for Trump, Musk, & Heritage Foundation:

Debate: "Should the U.S. federal government make reducing the national debt a fiscal priority?"

Steve Moore argues the affirmative case.

Arguing the negative is Stephanie Kelton

Debate starts 30.45 min in:

youtube.com/watch?v=eyDVycbRGp0

#mmt #uspol #debt&deficit #stephaniekelton #useconomics #ukpol #auspol .

2

What we've been taught about economics is backwards | read Warren Mosler's book & my head exploded. He said the complete opposite of what I'd been taught in economics. Warren said the federal government has to spend first, before any of us can have the funds to pay taxes or buy government bonds. | had always been taught that the feds first collect tax or govt bonds, & then they can spend. Warren said "That's backwards”. Take the board game, Monopoly. You can't start the game until you first distribute funds to the players. Warren's point is that the federal government is the monopoly issuer of the currency. It has to contribute to us before we can operate with those funds. And | thought, "Well, this must be wrong. | don't know why it's wrong, but I'm going to find out why it's wrong". So | started doing research into the Treasury, the Fed, etc. That's how | convinced myself that Warren was right. | went through it all & figured out that there was actually no other way for it to work. Stephanie Kelton 16 April, 2025, abridged from 1:15:15 in: https://www.youtube.com/watch?v=eyDVycbRGpO
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Nonilex

#JeromePowell on #US #debt

Federal debt is on an unsustainable path, though not at an unsustainable level.

Running large deficits w/full employment is a situation the country has to address

Domestic discretionary spending is small & declining as a share of federal spending; that is not the problem

So much of the dialogue from politicians is about discretionary spending, which is not the issue.

#US #economy #Trump #policy #Fed #US #inflation #tariffs #recession 🧵

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Nonilex

The #House narrowly adopted the #Republican #budget blueprint for slashing taxes for the very #wealthy & #corporations & government #spending, overcoming the concerns of budget hard-liners who fear it will balloon the nation’s #debt. The vote was a victory for Speaker #MikeJohnson, who put down a rebellion from deficit hawks, & #Trump, who had stepped up pressure on reluctant #Republicans.

#USpol
nytimes.com/2025/04/10/us/poli

The New York Times · House Passes G.O.P. Budget After Conservative Revolt CollapsesBy Catie Edmondson
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Nonilex

The #House to vote on the #Senate #budget resolution

#Republicans scheduled a vote for Wednesday evening, but they were still at least a dozen votes short of a majority for their fiscal blueprint.

A number of anti-#spending #HouseRepublicans said they planned to defy #Trump & oppose the measure, arguing it would add too much to the nation’s #debt.

#USpol #law
nytimes.com/2025/04/09/us/poli

The New York Times · House G.O.P. Leaders Press Ahead With Budget Vote as Defectors Dig InBy Catie Edmondson
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BerlinFokus

A #system in which it is legal to buy non-conforming #debt from someone, then load it onto a healthy company you have also bought, thus bankrupting it, and then to move on and do the same thing again & again .. has NO FUTURE.

It is dying.
From within.

💰⚰️🪦

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