Lmst

Government "deficit spending" is the nation-state creating money (out of thin air) and exchanging it.

The payroll tax (FICA) does not fund Social Security or Medicare. Like all other federal agencies, those agencies are funded by dollars created on purpose by the government (using laws from Congress) and placed in their accounts by the Treasury.

#FederalDeficit #fiatMoney #deficitSpending #moneyIssuance #moneyCreation #monetaryTheory #quotes #deficit #CentralBank #CentralBanks #Treasury #MMT

“The government can always finance its spending by creating money.”
~Hyman Minsky, economist

#fiatMoney #deficitSpending #moneyIssuance #moneyCreation #monetaryCreation #monetaryTheory #slogan #quotes #deficit #Fed #CentralBank #CentralBanks #Treasury #MMT

Rep. Thomas Massie (R-KY), known for his staunch fiscal conservatism, is making it clear: he’s a firm #NO on the #Republican #debt plan.

In a C-SPAN interview, #Massie dismantles the party’s own talking points, revealing that even under the most optimistic assumptions, the proposal adds hundreds of billions to the #deficit in the coming years. According to Massie, leadership’s numbers show a $328 billion increase in 2025 alone—with no real plan to control spending beyond vague promises of future restraint.

Having served in #Congress for 12 years, Massie has seen multiple so-called “10-year plans” under #Boehner and #Ryan—none of which ever played out as promised. He remains skeptical that this time will be any different.

With the deficit skyrocketing and fiscal responsibility on the line, Massie’s message is clear: empty promises won’t fix #America’s #economic future.

#ThomasMassie #FiscalResponsibility #DeficitSpending #DebtCrisis #NoMoreDebt #GOP #RepublicanParty #Congress #StopSpending #CSPAN #PoliticalAccountability #GovernmentWaste #NationalDebt #DebtCeiling #BudgetBattle #DCPolitics #TruthMatters #PoliticsUnfiltered

@RePEc_NEP_PBE '... each country's #debt history and specific characteristics, circumstances, and events have an overwhelming importance that cannot be encapsulated in a single general law. Research should concentrate on the former and abandon the pursuit of the latter.'
#FiscalPolicy #DeficitSpending #PublicFinances
/ends

Who did you say is good for the #Economy?

Trump approved $8.4 trillion of new ten-year borrowing during his full term in office, or $4.8 trillion excluding the CARES Act and other COVID relief

Biden, in his first three years and five months in office, approved $4.3 trillion of new ten-year borrowing, or $2.2 trillion excluding the American Rescue Plan

#Trump approved $8.8 trillion of gross new borrowing and $443 billion of #Deficit reduction during his term

President #Biden has so far approved $6.2 trillion of gross new borrowing and $1.9 trillion of deficit reduction

#voteblue #deficitspending
https://www.crfb.org/papers/trump-and-biden-national-debt?stream=top

Net 10 year debt - Trump 8.4T, Biden 4.3T

10 year debt - Biden - 4.3T (with 2T reduction 👍)

Fair question.
#USPolitics #DeficitSpending #GOPBaitAndSwitch #GOPHypocrisy #VoteBlue2024

Photos of Bill Clinton, Barack Obama, and Joe Biden, with text asking "Why do Republicans claim to be fiscally conservative when these are the only three presidents to lower the deficit in the last 50 years?"
Image credit: Occupy Democrats

Republicans all say they oppose deficit spending.
Democrats are the only ones who actually do something about it.
#VoteBlue2024 #DeficitSpending #USPolitics #USBudgetDeficit

* REAGAN took the deficit from $70 Billion to $175 Billion.
* BUSH 41 took it to $300 Billion.
* CLINTON got it to ZERO, and left office with a $86.4 billion SURPLUS.
* BUSH JR. took it from $0 to $1.2 Trillion.
* OBAMA halved it to $600 Billion.
* TRUMP added $7.8 Trillion, the largest peacetime budget deficit in American history and a national debt exceeding 100% of the economy for the first time since World War II.
* BIDEN reduced the deficit by $1.4 trillion by his 2nd year in office.

@gcblasing
Hey, @msnbc , remember there wouldn't be a deficit without Trump/GOP tax cuts for billionaires.

#USPolitics #DeficitSpending

#DeficitSpending jetzt!
DGB-Chefin Yasmin Fahimi bezeichnet Sparkurs als Gift für die #Konjunktur
https://www.faz.net/aktuell/politik/inland/dgb-chefin-yasmin-fahimi-bezeichnet-sparkurs-als-gift-fuer-die-konjunktur-19068348.html

The only thing worse than a tax-and-spend liberal is a borrow-and-spend conservative.

As unpopular as taxes may be, the liberals, at the very least, provide a funding plan.

Conservatives, in contrast, shift the tax burden to future generations.

Anyone who believes conservatives spend less than liberals hasn’t paid attention to historical American deficit spending.

Fiscal conservatism, at the American federal level, is a myth.

Photo from the A-Mark Foundation’s article “US Federal Deficits or Surpluses by US President from FY 1981-2021”: https://amarkfoundation.org/us-federal-deficits/

Keep in mind that the American Congress sets fiscal budgets that are (usually) approved by the President.

#Liberals #Conservatives #Taxes #DeficitSpending #FiscalConservatism #Myth #Politics