Message from @Snickers
Discord ID: 404827479547838474
fiscally liberal as in a lot of programs, w/ more taxes?
liberal's a pretty broad term
a lot or more programs but less taxes and more government spending
taxes don't fund government spending
how would you offset the debt
whats wrong with the debt? what's wrong with the deficit for that matter
the interest rate the Fed puts on the debt increases as the deficit/debt gets larger
in a couple decades, interest on the debt is going to be one of the largest items of expenditure
this causes a pretty large budget crisis the further out we get, financial crises and the such
lmao didn't intend for this to turn into a debate
When interest rates go up, the government pays more into the debt by increasing the deficit. And because the federal deficit is private sector savings, it will stimulate the economy depending on who is holding the bonds
I don't think that's very sustainable though
seems a bit of a Keynes thing
Also with regard to the interest rates, we don't really know whether or not it will speed up or slow down the economy
I guess I would fall more towards Keynes, but I guess I would be a post-Keynesian, more specifically someone who follows MMT
I'm more of a per capita economic kind of guy
When I think about a program or something, I think: would this better the life of the average American or would they be better keeping their own money
Also with regard to whether or not a debt level is sustainable or not, just know that we can never go bankrupt with our own money, since we the US gov is the currency issuer, not the user.
of course, but devaluing and the such could become a problem
That's why we have taxes
But regardless, if you mean "devaluing" as in inflation, then I think its a bit exaggerated
by what means
It's poorly understood is what I meant to say. Inflation isn't always caused by government spending
I would say unemployment is a way bigger problem tbh
well yeah, obviously the government isn't printing 3 trillion notes per year
it's velocity of spending
Right
I would agree with that; It would certainly cause an inflationary crises if we all just went and funded free college, medicaid, etc. in one night
The issue is that the US dollar is like a sort of lingua franca of currency for foreign investors, I don't think a lot of them would continue to use it if it were to be tampered with too much
Also, the issue of what people do with their savings
In general the government should be held responsible to avoid any price inflation when competing for scarce resources, but at the same time make sure we have decent living standards and full employment
100%
I think we ought to economically make it manageable for a family to have enough money to meet the standard of living of 4 people from one source of income
I think one parent should be responsible for child-rearing, the other at work
The issue of families raising their kids with entertainment is partially what's causing all this social degredation (at least from my view and most of the right)
There are constraints that we should be worried about; inflation and resources are two of them. But whether or not we can pay for it is not one of them
What you guys talking about
economics
Sounds neat
When are we starting another Red Wave Thread On pol