Comment on Economists made a model of the U.S. economy. Our debt crashed the model

resipsaloquitur@lemmy.world ⁨9⁩ ⁨hours⁩ ago

• otacon239@lemmy.world ⁨8⁩ ⁨hours⁩ ago

  What is?

  source

  • resipsaloquitur@lemmy.world ⁨8⁩ ⁨hours⁩ ago

    The constant fretting about debt.

    We are always days away from some unspecified horror because the debt-to-GDP ratio is slightly higher than some other countries, yet data doesn’t support it. But we have to slash social spending. To prevent the thing from happening. Whatever it is.

    But there’s always money for military and tax cuts for millionaires.

    Hint: it’s racism. Or, perhaps, classism.

    source

    • youCanCallMeDragon@lemmy.world ⁨8⁩ ⁨hours⁩ ago

      You can (and should) be worried about national debt while still supporting social programs. Hell, solving most social problems like homelessness would ultimately grow our economy and help relieve the debt.

      source

      • resipsaloquitur@lemmy.world ⁨8⁩ ⁨hours⁩ ago

        Public debt is the economy. Public spending is private savings. It’s tautological.

        Stunning how little “economists” know.

        But, as you’re so wise, please connect the dots for me. How does cutting public spending solve homelessness?

        source

        • -> View More Comments
    • pennomi@lemmy.world ⁨8⁩ ⁨hours⁩ ago

      This article said nothing about how to lower the debt. They could be in favor of cutting military spending.

      source

      • resipsaloquitur@lemmy.world ⁨8⁩ ⁨hours⁩ ago

        Where did I say they did? The fretting itself is a tell.

        source
    • NocturnalMorning@lemmy.world ⁨8⁩ ⁨hours⁩ ago

      Making a loy of jumps in conclusions right now. Do you think youre the smartest person in every room youre in? Bcz nobody likes that guy…

      source

      • resipsaloquitur@lemmy.world ⁨6⁩ ⁨hours⁩ ago

        I mean, it’s not harder to be smarter than the average economist. They’re willfully ignorant apologists for millionaires.

        source