Comment on Economists made a model of the U.S. economy. Our debt crashed the model
resipsaloquitur@lemmy.world 8 hours agoPublic 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?
youCanCallMeDragon@lemmy.world 6 hours ago
Definitely said the opposite of that. Social spending and fiscal responsibility. I was highlighting that social programs can be the tide that raises all boats. Once again you can be pro-social spending and anti national debt.
resipsaloquitur@lemmy.world 6 hours ago
That’s not how money works in a fiat currency.
Sorry, they lied to you in econ 101. Loanable funds theory hasn’t been a thing in decades.
youCanCallMeDragon@lemmy.world 6 hours ago
What even is your position on this? Social spending enables more people to participate in the economy. Taking homelessness as an example again, we spend more on social programs keeping people homeless through general aid, and medical assistance than it would cost to house them. That alone would help with the deficit. Then the stability housing would provide allows more people to participate in the economy resulting in more tax revenue, less need for assistance, larger workforce etc… This experiment has already been proven in other countries. That kind of social benefit applies to other areas as well especially in healthcare and food assistance. Sometimes the right thing is also the best thing. You know, if goodness alone isn’t enough to sway you.
Once again you can support this and still want to fix the deficit and national debt crisis.
resipsaloquitur@lemmy.world 5 hours ago
It’s cute that you think we spend more on homelessness than it would cost to house and feed and take care of someone for a year.
I’ve never heard anyone argue that we should spend more on social programs to reduce the national debt. Kudos! I’ll vote for you when you run for office on that platform.