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Choices and Consequences
(mander.xyz)
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this post was submitted on 11 Feb 2024
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Another thing that might have been different with a Gore win: when Bill Clinton left office, the federal government did not have a balanced budget - it had an actual budget surplus of hundreds of billions of dollars. With a continuation of that type of fiscal "conservatism", we could today have been debt-free as a nation. Instead, we have a debt of $34 fucking trillion.
Should be very clear that both parties are very equal in the growth of the debt.
No they're not. Deficits like this are from not taxing the rich and corporations. Trump alone is like 40% of the deficit because of this.
You realise that debt of the government is equal to wealth in the private sector? Being debt-free would mean that there is no central bank money in circulation. How would this help the actual economy?
That's not how it works at all.
Ok, then explain how it works. Where does money in circulation come from?