US has monetary sovereignty, so the national debt is little more than a cudgel to justify austerity. We know this because any budget cuts that happen supposedly because of it have never reduced spending, they’ve just reallocated funding away from social benefits to bailouts, military, police, and prisons.
And shockingly this has never taken the US even close to bankruptsy despite decades of neoliberal blathering,
because again the US has monetary sovereignty and thus doesn’t operate under the same logic as a household or fucking car dealership
US has monetary sovereignty, so the national debt is little more than a cudgel to justify austerity. We know this because any budget cuts that happen supposedly because of it have never reduced spending, they’ve just reallocated funding away from social benefits to bailouts, military, police, and prisons.
And shockingly this has never taken the US even close to bankruptsy despite decades of neoliberal blathering, because again the US has monetary sovereignty and thus doesn’t operate under the same logic as a household or fucking car dealership