Tuesday, October 29, 2019

Be more concerned about other things than just debt

I agree with Krugman.  Debt isn't really much of a problem.  The MMT'ers go much farther in that direction, and I see Krugman as defining the "conservative" view, with the truth being somewhere in between.  This is nothing new for me.

What is a problem, is how we are utilizing our worker power.  We need to be doing the Green New Deal, and all of Bernie's other programs.

Regardless of whether they seem to increase debt.

In the long run, they will more than pay for themselves plus improve our way of life and prospects for survival.  When you have opportunities like that, you should take them.

Of course, we should also be taxing capital rents better and cutting our military expenditures to the proportion of a non-aggressive country such as Japan.  If we don't do that, not only will there be higher debt, we won't have the actual labor power to get the Green New Deal and all the other good things done.

If we simply keep slowly/quickly increasing debt while failing to do anything useful with the money, or even anything less than globally and wantonly destructive with the money--as we are doing now--we'll deserve what we get.

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