Govt. should never be run like a business. Govt. doesn't need to make a profit, since it literally keystrokes its own money into existence when it spends.

He's a liar. As the sole issuer of its own currency, US federal govt. literally keystrokes $ into existence when it spends, and its spending is only limited by the goods & services available to buy in USD. Even Greenspan admitted it:
www.youtube.com/watch?v=DNCZ...

There's no reason, except for cruelty. As sole issuer of its own currency, US federal spending is never revenue constrained. It's only limited by the goods & services available to buy in USD. And they should know it. Even Greenspan admitted it:
www.youtube.com/watch?v=DNCZ...

Not only that, but the idea that the US borrows "from Chinese peasants" or ANYONE is economically illiterate. As sole issuer of its own sovereign currency, US spending is never constrained by taxing or borrowing.

1/ Nope. As sole issuer of its own currency, govt. spending is never revenue constrained. Taxes serve a purpose, but paying for govt. spending isn't one of them.
Govt. spends by keystroking numbers into bank accounts. No taxes involved.

Yep.

Johnson is an idiot as well. There is no national "credit card". The so-called national debt is simply all the money US govt. has issued into existence since 1789 that it hasn't taxed out of the economy yet. These are the net financial assets of the private sector. It functions as the money supply.

The so-called national debt is simply all the money US govt. has issued into existence since 1789 that it hasn't taxed out of the economy yet. These are the net financial assets of the private sector. It functions as the money supply. There's nothing to pay down.

‘We’ve saved $98 million to help veterans’
These firings are unnecessary. US govt. is the sole issuer of its own currency. It literally keystrokes $ into existence when it spends. It doesn't need to save. All spending is based on political will. There is no financial constraint.

Yeah, the Clinton surplus is not the brag we have been told it is.
The Untold Story Of How Clinton's Budget Destroyed The American Economy
web.archive.org/web/20120907...

Much ado about nothing. The so-called national debt is simply all the money US govt. has spent into existence since 1789 that it hasn't taxed out of the economy yet. These are the net financial assets of the private sector. It functions as the money supply. It's not debt like you and I have.

James Galbraith: "The US Treasury must follow the law. Debt ceiling or no, it cannot legally default on any obligation."
web.archive.org/web/20230110...

👏👏👏👏

When he lived in his mother's basement.

Problematic. Federal spending doesn't work that way. The federal govt. is self-funding. As sole issuer of its own sovereign currency, US govt. literally keystrokes $ into existence when it spends, keystrokes $ out of existence when it taxes.

As a NY-er, I can say without equivocation that this was a genuine magical experience:

Never trust anyone who would rather raise the retirement age than tell the truth about how Social Security actually works.
www.thenation.com/article/arch...

Please make it a regular thing and put it on youtube or something.