4 ms·
Is it really fringe? Printing money without limits for 13 years seems in line with MMT.
by Nemrod67 6y ago
Is it really fringe? Printing money without limits for 13 years seems in line with MMT.
- UncleOxidant 6y agoYeah, both sides of the political aisle seem to have embraced MMT. Of course, when they're out of power the GOP is critical of deficit spending that they weren't critical of just a few months ago when they had the power.
- anonporridge 6y agoGOP presidents have exclusively been deficit spenders starting with Reagan, who reversed the decades long trend of paying off WWII debt and handed off a massive expansion of the national debt to GDP ratio after his terms. I believe Clinton is the only president in the past 50 years who has ever presided over a government surplus. GOP; gaslight, obstruct, project.
- chrisco255 6y agoClinton was kept in check by a republican Congress beginning in 1994. Remember our government isn't just one person.
- LukeShu 6y agoWow, I didn't realize how rare it's been for the Senate and the House to both be Republican. Only 7 times since 1955: 104th-106th (1995-2001), 108th-109th (2003-2007), and 114th-115th (2015-2019). (To be fair, during my lifetime, that's been about half the time.)
- chrisco255 6y agoYeah after FDR in the 40s, the Democrat party enjoyed a long regime of dominance. That trend didn't reverse until Reagan in 1980 and it would still take a decade or so more before that shift began to reflect in state and local elections as well.
- anonporridge 6y agoThis only gives more credence to the fact that Republicans are actually not fiscally responsible at all. Only after Reagan did the era of responsibility end, https://zfacts.com/wp-content/uploads/2020/04/2020-04-30-National-Debt-to-GDP-zFacts.jpg https://zfacts.com/wp-content/uploads/2020/04/2020-04-30-Nat...
- anonporridge 6y agoSo why did Reagan, the Bushes, and Trump all fail to keep themselves in check as leaders of the party that claims to value fiscal responsibility?
- LukeShu 6y agoIndeed, FY1998, FY1999, FY2000, and F2001 are the only years of since FY1969 for which the federal government ran a surpluss rather than a deficit. George W. Bush, not Clinton, presided over most of FY2001; but he inherited the FY2001 budget from Clinton. Source: https://www.govinfo.gov/content/pkg/BUDGET-2021-TAB/pdf/BUDGET-2021-TAB.pdf https://www.govinfo.gov/content/pkg/BUDGET-2021-TAB/pdf/BUDG...
- qsort 6y agoMMT advocates would oppose quantitative easing. If you buy into their fantasy-land worldview that the government isn't financially constrained, the central bank purchasing government bonds is an asset swap.
- neilwilson 6y agoIt's in line with the caricature of MMT from people who don't actually understand MMT.