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Chaos in France after Macron refuses to name prime minister from leftwing coalition
(www.theguardian.com)
this post was submitted on 27 Aug 2024
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That's not how modern monetary policy works, by the way. The US dollar has a ton of power worldwide for many reasons, so we determine what our money is worth, period. This is why every time the US government has spent money on "demand side" solutions (stimulus checks, etc.) they have provided nothing but upside.
This little trick that capitalists don't want you to know about: it's all bullshit. They want us to keep injecting cash into failing banks rather than just paying for people's garbage mortgages.
We owe nothing to nobody because those debts will never be paid (who would they even be paid to?).
There is zero practical reason (beyond "oh no, billionaires and multinational corporations need to pay taxes wahhh") that we cannot spend as much money as we like on every social program we like. Prove me wrong (or just read about "Modern Monetary Theory" as I'm not an economist).
Have you heard about what happened to greece?
For example, one third of population lived in poverty (in Greece) due to economic crisis. Is that not enough to take responsible money management seriously?
Greece doesn't have the largest economy in the world. Their currency isn't the Petrodollar like USD is. The world economy runs on USD. I don't think you understand just how much power and freedom that affords us with regards to spending. Not your fault because it's been hammered into us for decades by "fiscal conservatives." But the actual reality is that we have far more control over these things than those people want you to think.
The only way spending on social programs could ever possibly tank the US economy is if billionaires and corporations purposely did so out of spite, and desire to return to the times when they could get away with being robber barons (AKA right now). And unfortunately, it would probably work.
That said, even if you don't believe that Modern Monetary Theory is real (again, you should read about it from actual economists, not me), we could very easily take care of every person in this country, legal or not, if we even modestly reduced our "defense" budget, and properly taxed corporations and the uber-wealthy.