Ravin's Ramblings

nerdbadge:

Major economic and fiscal principles missing from this bullshit:

• The national gov’t isn’t a household and we don’t want it to function like one.
• The debt is largely money we owe ourselves (google ‘Treasury Bonds’).
• We need the gov’t to spend money during economic downturns in order to stimulate employment, meaning money in peoples’ pockets which gets converted into consumption and, wait for it, increased tax revenue to deal with the debt issue at a time when we’re not reeling from a recession.

You want a Beyond the Thunderdome, everyone-for-themselves society? Then by all means, let’s prioritize a balanced budget over jobs creation, education, health care, or any of the other things necessary to grow a sustainable economy.

(Source: noeatinginthelibrary)