I don’t quite agree that the goal should be no debt.
Just like getting a loan to buy a house today pays out better over time, or getting an education loan works out better for everyone later, a nation going into debt makes sense.
It pays out better in the long run. In fact debt is one of the best exports we have. We take other peoples money to build infrastructure that accelerates growth, they get decent interest payouts.
I think there does need to be some reigning in of spending.
We shouldn’t operate on an unbalanced budget as a normal course.
Keep in mind it’s mostly republicans blowing up the debt- tax breaks for people who don’t need tax breaks. Wars against people who weren’t a threat. Bailouts to company’s that then use the cash for a stock buy back… funding Israel…. There’s a shit load of problematic spending but it’s always health care and education and social safety nets first.
Even without dollar hegemony, the USA is the issuer of dollars and could choose to print all of the money necessary to fully pay off their debt. They’re only interested in printing money to fund genocide, though.
I don’t quite agree that the goal should be no debt.
Just like getting a loan to buy a house today pays out better over time, or getting an education loan works out better for everyone later, a nation going into debt makes sense.
It pays out better in the long run. In fact debt is one of the best exports we have. We take other peoples money to build infrastructure that accelerates growth, they get decent interest payouts.
I think there does need to be some reigning in of spending.
We shouldn’t operate on an unbalanced budget as a normal course.
Keep in mind it’s mostly republicans blowing up the debt- tax breaks for people who don’t need tax breaks. Wars against people who weren’t a threat. Bailouts to company’s that then use the cash for a stock buy back… funding Israel…. There’s a shit load of problematic spending but it’s always health care and education and social safety nets first.
Even without dollar hegemony, the USA is the issuer of dollars and could choose to print all of the money necessary to fully pay off their debt. They’re only interested in printing money to fund genocide, though.