National debt seems more like credit card debt to me. Some of it may be as necessary as a mortgage, but a lot of it is living beyond one's income. Now, the US Government could, if politicians were willing, increase its income through taxation, and could put a ceiling on its debt or lower its indebtedness. It would be a good thing, because the interest on the national debt is huge, and costs us the opportunity to accomplish worthwhile goals. — Bitter Crank
The solution is to increase taxation (long since reduced) on the richest portion of Americans who have more wealth than the rest of the population. — Bitter Crank
Whats the solution? — frank
It ignores how governments actually go about attaining and using its mone — MindForged
National debt, in a country with a fiat currency, that has lender confidence, has absolutely nothing at all I in common with personal, or local government debt. — Rank Amateur
2. The US is a model of a democratic state with a massive chronic trade deficit which has reached the point of being unable to adequately fund its government and military, but it isn't able to raise taxes (or tribute). Instead, it just has a debt which would take out the global economy were it to default. — frank
I assume you realize that "printing" money is not the issue, it is the money supply - which mostly consists of figures in computers. — Relativist
I understand that personal or corporate debt isn't the same as national debt. However, the fact is that national debt is a recurrent item of discussion among economists and politicians, both. — Bitter Crank
I understand that personal or corporate debt isn't the same as national debt. However, the fact is that national debt is a recurrent item of discussion among economists and politicians, both. — Bitter Crank
The United States IS able to raise taxes. The fact is the politicos in Washington don't want to raise taxes. — Bitter Crank
The result is a debt that will never be paid. — frank
Hey, in the 1960s the rate on big wealth was 91%. What do you mean, the government can't effectively tax wealth? — Bitter Crank
A sovereign government can never become insolvent in its own currency — Rank Amateur
This is dangerous to implement. It creates conditions for hyperinflation and such. — Posty McPostface
MMT is not a plan that you implement - it is an explanation of what is happening. — Rank Amateur
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