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This is absolutely true. There is another issue as well. The way the US (and other sovereign currency issuers) spend is fundamentally different from the way the
by drweevil 2y ago
This is absolutely true. There is another issue as well. The way the US (and other sovereign currency issuers) spend is fundamentally different from the way the states spend. Unlike the states (or people, or a corporation)--and despite the misapprehension of all too many people--the federal government doesn't go into debt when it spends, and doesn't save anything when it doesn't. States, however, must raise money to spend. They don't issue currency. So what is going to happen here? States simply won't prioritize this. My state is busy cutting taxes for the rich. Do you think they'll cancel that to prioritize this? Think again. So what is the ultimate goal here?
Oh, and this: "“Human-to-human partnership is free. That’s coffee and bagels” (Gustavo Rodriguez, CEO of Digital First Responders). People's time and expertise is free, apparently.