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“Then why does the military budget keep going up as social programs keep getting cut?"
Now that’s a good question.
#LearnMMT
[thread – version 2]
Now that’s a good question.
#LearnMMT
[thread – version 2]
You and I require income (a paycheck) before we can spend. We must choose and prioritize what each dollar is spent on. Food or medicine? Can’t afford both this week. Or... gotta chop that pill in half so we can buy food for our kids. Hard choices. One or the other. Either/or.
Before Nixon took the US dollar off the gold standard in 1971, the federal gov't was the same way: they needed income (i.e. taxes) before they could spend. Now that the US dollar is a "fiat" currency, "a budget" to me and you is
**NOTHING**
like "a budget" to the federal gov't.
**NOTHING**
like "a budget" to the federal gov't.
