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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.
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#LearnMMT
Now that’s a good question.
[thread]
#LearnMMT
You & I require income (a paycheck) before we can spend. We must choose & prioritize what we spend each $ on. Food or medicine? Can’t afford both this week. Or...gotta chop that pill in half in order to buy bread & eggs to feed our kids. Hard choices. One or the other. Either or.
Before the United States went off the gold standard in August of 1971, the federal government was exactly the same way: they needed income (taxes, borrowing) before they could spend on federal programs.
