JUST MONEY TWO
We are currently witnessing the final (now annual) arguments between members of congress and whoever is President, over the “debt ceiling.” As always, there is wringing of hands and the endless alarms about “mortgaging our grandchildren” regarding the “unsustainable” national debt. “Government spending needs to be cut” (except, of course, the military/industrial/congressional complex – unanimous bi-partisan support there). So, as always, the items on the chopping block are, unlike endless military spending, the things that actually defend average, working Americans. Infrastructure, education, low-cost housing, social security, Medicare, student debt relief, alternative energies, child care, nursing home care, help for disabled veterans, national healthcare and on and on, are all “unaffordable” and invariably are attacked.
Tragically – and it is a tragedy for average, working Americans – all of this “debt ceiling” nonsense is based on ignorance and lies. It supports the oligarchy that has replaced democracy in America.
Please take the time to watch the following 9-minute video by economics Professor Stephanie Kelton, author of the New York Times best seller, The Deficit Myth, as she explains how false all of the arguments over the national “debt” actually are:
The nonsensical statements we hear from politicians – from Hillary Clinton, Mitt Romney, Margaret Thatcher, Kevin McCarthy, or President Biden, are wrong – period. Whether it’s out of ignorance, willful ignorance, or deliberate falsification, this misrepresentation hurts working Americans and their families. It transfers ever more of the nation’s wealth to the richest of the rich.
National monetary and fiscal operations are not subjects most people are interested in – understandably so. But not understanding has a huge impact on their future wellbeing and that of their families. It has a huge impact on whether or not America will continue its transition to oligarchy – rule by the rich – or will return to a nation run by democracy.