I'm just referring to deficit fear mongering, sometimes called the "Two Santa Claus" theory. Conservatives "spend" tons on tax breaks when in office and drive up the deficit. Then when they lose office, they get to blockade all federal funding for social programs and the safety net, and sometimes even cut them in the "service" of lowering the deficit.
Of course since our modern democrats are really just conservatives, they do this too. Hence Nancy Pelosi letting some members of the squad into certain committees on the condition that the House DEMOCRATS reinstated Pay-Go.
The Deficit Myth is the name of a new book from Stephanie Kelton that breaks it all down in layman's terms. Some people I know who are obsessed with studying heterodox economics say that, while it doesn't perfectly explain everything about how our economy and banks really work, it is an excellent primer.
what is the deficit myth?
I'm just referring to deficit fear mongering, sometimes called the "Two Santa Claus" theory. Conservatives "spend" tons on tax breaks when in office and drive up the deficit. Then when they lose office, they get to blockade all federal funding for social programs and the safety net, and sometimes even cut them in the "service" of lowering the deficit.
The truth is that taxes don't actually function this way at the federal level. Federal programs are not funded by taxes.
Of course since our modern democrats are really just conservatives, they do this too. Hence Nancy Pelosi letting some members of the squad into certain committees on the condition that the House DEMOCRATS reinstated Pay-Go.
The Deficit Myth is the name of a new book from Stephanie Kelton that breaks it all down in layman's terms. Some people I know who are obsessed with studying heterodox economics say that, while it doesn't perfectly explain everything about how our economy and banks really work, it is an excellent primer.
edit: fixed some links and stuff