tomolin.bsky.social
Retired IT guy, MMT convert, progressive.
What's so radical about wanting everyone to have food, housing, healthcare, education, security? In those terms, moderation is cruelty.
13 posts
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281 following
Prolific Poster
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Call them the Vichy Democrats.
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What happens when you do that? Seven times in our nation's history, we've made significant reductions in the national debt. Those times resulted in 6 depressions and the Great Recession.
Be careful what you wish for.
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Paying off a bond is as simple as debiting a securities account and crediting a reserve account at the Fed, no taxpayers nor grandchildren involved. Anyone who wants to eliminate the national debt wants to remove all dollars from the private sector.
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The so-called national debt is simply the cumulative amount of money the government has created (spent) but not yet deleted (taxed). Most of that is held as interest-bearing government bonds.
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It simply means the government has added that much money to the economy for all of us to use. Or course, the wealthiest try to horde as much as they can, but it's still the private sector's wealth.
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Sadly, I wrote that paragraph six years ago, in February 2019. The coup design was always there. You're just seeing its most overt manifestation because no one in power bothered to stop it, and many enabled it, including those pretending to oppose it.
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If this situation were reversed, Mitch McConnell would've had an army of congressional lawyers pouring over every rule of procedure to find out every single way they could obstruct. Democrats have to stop being pussies.