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But how would the government afford to pay all these benefits indefinitely? Unless the new normal will be to just keep taking out more debt in perpetuity.
by BuyMyBitcoins 5y ago
But how would the government afford to pay all these benefits indefinitely? Unless the new normal will be to just keep taking out more debt in perpetuity.
- tylersmith 5y agoThat is basically the plan, yes. "Modern Monetary Theory" is that USD-denominated debt is free because you can print the dollars to pay it back at any time.
- alentist 5y ago> USD-denominated debt is free because you can print the dollars to pay it back at any time Are you aware of this thing called "inflation"? Do you understand that printing more dollars dilutes the real value of a dollar?
- aaalexxjjamess 5y agoGovt. debt has been used to pay for high military spending etc. It has happened before many times and can happen again. A better way to solve these problems could be to not just throw money at them but build preventative systems.
- dave5104 5y ago> if we're already subsidizing low wage jobs with social programs like food stamps I imagine by not having to pay as much for social programs, like food stamps. We're already paying for social programs indefinitely.
- sdenton4 5y agoSpend what's needed, then take in what's needed to balance it out, through a combination of taxes and debt. https://en.wikipedia.org/wiki/Modern_Monetary_Theory https://en.wikipedia.org/wiki/Modern_Monetary_Theory
- alentist 5y agoYeah, that worked great for my home country. https://www.cato.org/cato-journal/fall-2019/modern-monetary-theory-cautionary-tales-latin-america https://www.cato.org/cato-journal/fall-2019/modern-monetary-...
- Spartan-S63 5y agoThe new normal should be a combination of moderate deficit spending (nothing like the COVID stimulus packages - those are special crisis spending level events) and significant tax increases for the wealthy (think 1950 level), plus wealth taxes for the ultra-wealthy.