I will be voting NO on the Rules package with #PayGo. It is terrible economics. The austerians were wrong about the Great Recession and Great Depression. At some point, politicians need to learn from mistakes and read economic history. @paulkrugman @StephanieKelton @RBReichhttps://twitter.com/GunnelsWarren/status/1080318713331617792 …
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Oh, I see, I thought you were talking about private investment, but you're talking about gov investment. That's not true either - the gov is the issuer of the currency, it can always make any size payment. Under current rules, nothing about larger debt service automatically
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I’m talking about both. If you don’t pay for things by cutting or raising taxes, you issue debt. Something has to purchase that sovereign debt whether it’s a country or private like a pension fund. So if rates have to rise to make that debt more attractive to buyers then they....
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This is incorrect. Congress could order the Treasury to stop issuing bonds tomorrow if they wanted to. Debt would only rise by the interest on previously held Treasuries until all phased out. You are stuck in a fixed concept of a monetary system. US is monetarily sovereign.
End of conversation
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