Economically illiterate and politically insane.https://twitter.com/Steinernomics/status/1036627535545679872 …
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Replying to @StephanieKelton @ryangrim
hmmm, so now that trillion dollar deficits are the norm we should quit caring about debt? debt is free money?
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It is when the entity that owes it is the "sole manufacturer" of that in which it is denominated.
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why do we even collect taxes with all this free money available?
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A) So that the government currency stays the currency that is used. You need US dollars to pay taxes, therefore you need to get paid on US dollars. B) To regulate the supply of money in the economy. If there’s too much you tax some out. C) To reduce inequality D) That’s it
7:19 PM - 3 Sep 2018
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Self-sabotage
[And Pelosi, despite opposition from some progressives, is committed to reviving the "pay-go" (or pay as you go) rule she had during her previous run as speaker, requiring that new spending be paid for by budget cuts or revenue offsets.]