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Politics : Politics for Pros- moderated
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To: Jacob Snyder who wrote (773494)12/8/2022 9:35:56 PM
From: skinowski2 Recommendations

Recommended By
Hoa Hao
Jacob Snyder

   of 793818
 
There is no need to increase taxes to pay for a war. Just borrow more.
Infinite Borrowing with no intention of ever paying back is… dishonest, to put it mildly. We like to think that we pay our government’s salaries. Or, that our tax money pays for services for illegals - or for the war in Ukraine. The truth is, we do pay - but only in part. They don’t depend on our taxes. Whenever they need money, they simply “borrow” more.

Infinite Borrowing is, in essence, Modern Monetary Theory in real life use. It’s been around for decades. The government spends as much as they chose - and, if inflation kicks in, the Fed tries to mop up liquidity by raising rates.
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