Saturday, January 21, 2023

Solution looks pretty simple to me

Times econ columnist Peter Coy passes on a chart that we might all keep in mind while the Republican Congress plays games about letting the government pay its bills:

 
If we're worried about having enough money to pay the government's bills, we know where to find it. There are people who have more wealth than they need. Elizabeth Warren had it right: we should be taxing wealth. Not to the extent of confiscating it, but enough. "Enough" is a concept which capitalism (organized anti-social greed) destroys. We need to retrieve it.

• • •

And no, this has nothing to do with the "debt ceiling" which is an arbitrary piece of nonsense generations of legislators have allowed to infest our law-making processes. They voted (or didn't) to incur some bills under budgets they passed. The United States has historically most always borrowed to pay its bills and this hasn't sunk the country yet. Our vast economic engine has made the country a good bet for lenders who need a safe place to park money. Republicans are willing to trash that by reneging on our promises to pay --- for what purpose? Perhaps an appearance on Fox or approval from Victor Orban? 

Do your damn jobs!

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