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#budgetdeficit

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AMonkeyInSilk 🇺🇦🇵🇸

David Speers on #ABCNewsAustralia this evening continuing the mythology around a ‘balanced’ budget.

Australia and Australians suffer whenever the federal government prioritises a budget surplus over services and infrastructure needed to maintain a strong and healthy country and population.

#auspol #mmt #fiatCurrency #election #vote #budget #budgetdeficit

From: @DrALJONES
mastodon.social/@DrALJONES/114

On "the superstition that the budget must be balanced" "There is an element of truth in the view that the superstition - that the budget must be balanced at all times - once debunked, takes away one of the bulwarks that every society must have against expenditure out of control. "There must be discipline in the allocation of resources or you will have anarchistic chaos and inefficiency. "One of the functions of old fashioned religion was to scare people - by sometimes what might be regarded as myths - into behaving in a way that long-run civilized life requires." US economist Paul Samuelson, 2 Mar, 2014 From https://youtu.be/4_pasHodJ-8
MastodonDrALJONES (@DrALJONES@mastodon.social)Attached: 1 image 2 The fictions: US economist Paul Samuelson explains the purpose of spreading the "balanced budget superstition": From @heinrichsgeist@digitalcourage.social "...economics is abused as a religious doctrine — generations of students have been misled by dogmatic textbooks..." Extract: https://youtu.be/4_pasHodJ-8 Full doco: https://sms.cam.ac.uk/media/761745/ #mmt #economics #uspol #ukpol #auspol . Mainstream economics as religion: "Don't tell the plebs the truth - it'll be the end of civilised society". Ever-so-convenient lies.
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C.

#USPol

So after driving the world's largest economy off a cliff, causing precipitous declines in the stock markets for two days, what did Trump choose to do?

He took another long weekend off to cheat at golf, of course. Why should his lifestyle be affected by the chaos and destruction he's unleashing?

Note: when a billionaire [1] says there may be some short-term pain due to his economic policies, he means pain for you. Never him, or his buddies.

And finally, on his way back to D.C., he made a few remarks about the economy and markets, claiming everything was fine. The chilling part is that his words made absolutely clear that he does not understand the difference between a trade deficit and a budget deficit.

I'll repeat that for those in the back: THE MAN IN COMMAND OF THE MACHINERY THAT CONTROLS THE US ECONOMY DOES NOT KNOW THAT A TRADE DEFICIT AND A BUDGET DEFICIT ARE DIFFERENT THINGS.

After understanding that, if you still believe that his actions are going to result in a stronger US economy after some "short term" pain, I have a bridge to sell you.

[1] I don't think Trump was actually a billionaire before the last election. He had lots of claimed-expensive assets, but was leveraged heavily on almost everything. His net worth was probably low hundreds of millions, max. But he's grifted massively since then, and probably is now..

#Trump#economy#recession
Public
A Guy Named Brian (he/him)

“The budget deficit is not due to the salaries of civil servants, who are being wantonly fired, or to the government’s R&D spending, on which our future prosperity depends, but rather to the combination of tax cuts for the rich, and reckless spending on America’s perpetual wars…”

#Politics #USPolitics #Economics #TradeWarImpact #TrumpTariffs #BudgetDeficit #DemocracyVsOligarchy #DemocracyVsAuthoritarianism #TaxTheRich #RecessionPossibility

commondreams.org/opinion/trump

Common Dreams · Trump's Absurd Trade Policies Will Impoverish Americans and Harm the World | Common DreamsAmerica’s trade deficit is a measure of the profligacy of America’s corporate ruling class, more specifically the result of chronically large budget deficits resulting from tax cuts for the rich combined with trillions of dollars wasted on useless wars.
Public
AMonkeyInSilk 🇺🇦🇵🇸

Sick to death of the budget surplus deficit rhetoric being peddled at us by the opposition and mainstream media.

A budget surplus should NOT be the goal of any national government.

The goal and role of national government is to provide for the citizens of the Commonwealth of Australia and work towards meeting their needs and democratic demands.

The sooner the voting public realise this the better for them, Australia and democracy.

#auspol#budgetdeficit#budget
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