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Message
re: Biden Economic Advisor Doesn’t Understand ECONOMICS
Posted on 5/4/24 at 1:17 pm to Bard
Posted on 5/4/24 at 1:17 pm to Bard
The average American lives on borrowed money and assume it is okay for the Fed to do the same. The statement that the US "can't go bankrupt because we print our own money" has to be the most moronic take I have ever heard when it comes to fiscal policy.
1
Posted on 5/4/24 at 7:54 pm to CDawson
quote:
The average American lives on borrowed money and assume it is okay for the Fed to do the same.
I see it as the other way around.
quote:
The statement that the US "can't go bankrupt because we print our own money" has to be the most moronic take I have ever heard when it comes to fiscal policy.
I heartily agree, but as the federal government goes deeper and deeper into debt, I have a feeling the belief in it around DC will grow solely because it presents Congress (and the federal bureaucracy) a (faux) path for continuing to deficit spend without paying down the debt.
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