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View Diary: Politico's new myth: It's never easy for House GOP to raise debt ceiling (42 comments)

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  •  I agree with this 100% Dems should unanimously (0+ / 0-)

    always vote for a debt ceiling increase an should introduce a bill every single session that eliminates the debt ceiling altogether.  
    In what world does cutting taxes "cost the Govt" money?
    The US Govt is a monetary sovereign, the US dollar comes from the US Govt.  Its time to accept that the gold standard has been over since 1971....there is no such thing as running out of fiat money or 'depleting the US treasury".  Please, please, please stop perpetuating this myth.  Its a right wing myth that constantly bedevils progressives.  The US Govt has absolutely ZERO need of our dollars to spend money.  All Govt spending is simply a matter of crediting bank accounts electronically.  The US dollar is not a commodity.  Lower taxes are good for an economy as they add to the (C)onsumer and (I)nvestment spending portion of GDP.  
    Our deficit is much too small right now given A) the size of the Federal Govt as % of GDP and B) private sector deleveraging that has led to our Great Recession.

    The Govt can expand the deficit by either cutting taxes or increasing spending or a combination of both.....The Govt should stop taking so much money from Americans who already make too little.  Suspend FICA 100% until unemployment hits 4%, thats an extra $1 Trillion in deficit which means an extra $1 trillion in money for we the people....the Govt's deficit is the non-Govt's surplus.  National Accounting 101.

    MMT = Reality
    neweconomicperspectives.org
    http://mythfighter.com/...

    "The Earth is my country and Science my religion" Christiaan Huygens

    by Auburn Parks on Tue May 07, 2013 at 05:12:15 AM PDT

    [ Parent ]

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