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“We just owe it to ourselves” is a propaganda line. There must be more productive uses for those funds than paying interest. Being on the creditor side of compo

• kube-system 2y ago
  > “We just owe it to ourselves” is a propaganda line. There must be more productive uses for those funds than paying interest. There are! One of the most productive uses of buying your own treasuries is the ability to manipulate the entire economy as a whole. https://en.wikipedia.org/wiki/Quantitative_easing https://en.wikipedia.org/wiki/Quantitative_easing
• ljosifov 2y ago
  The literal truth can hardly be a "propaganda line". More constructive criticisms are 1) private sector could have done better with the same finance (ultimately - resources); and 2) interest on that is paying basic income to people that already have money. I am sympathetic to both. So - the debt itself is a signal, a symptom. The solution is not to treat the symptom, but the causes. On 1) - you can say the state needs to do less. Just go down the list of things the state does, and propose those be reduced. From that PoV, the federal gov being "insurance company with and army" is basically correct. So to reduce gov spending, need to look at those two top of the list items. On 2) - that's easier imo. The IR rate is a decision, a vote, by a monopolist, controlled ultimately by the legislature. Just reduce the IR if that's an issue. Then fight inflation (if needed) with other means. People have forgotten that - but can relearn quickly.