Home » xyzzy » Dungeon » Modern Monetary Theory (or, how I stopped worrying about the natl debt.)
Re: Modern Monetary Theory [message #90302 is a reply to message #90212] Sun, 12 May 2019 15:37 Go to previous messageGo to previous message
Kingfish is currently offline  Kingfish
Messages: 548
Registered: November 2012
Illuminati (1st Degree)
Rusty wrote on Wed, 01 May 2019 14:45
The current debt level reflects what the federal government has spent, over the history of this country on all manor of things, worthwhile and wasteful.
That is what most people don't understand in my opinion. They have little concept of history and how it pertains to the present.

Quote:
They say essentially, the government can spend what's needed up to the capacity of what resources are available
Then why is it called a debt? That's what I don't get. If I borrow $5,000 because those resources were not available at the time I needed them, and then have to pay both that and interest back, that is called a debt.
 
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