Discover and read the best of Twitter Threads about #debtceilingcrisis

Most recents (1)

"People perceive national debt as a negative, Grey said. But instead, he argues, you can think of it as a savings account, because people are earning interest through the bonds that they hold."

Correct. The "debt" is assets, and the ceiling is just dumb.
marketplace.org/2023/05/12/cou…
It is a choice we make to issue Treasury securities $1 for $1 of federal spending that exceeds taxes. We don't have to do that, but it's popular because people like earning a US government guaranteed rate of interest.

The entire #DebtCeilingCrisis is just a hostage situation.
The US issues USD. We choose to also issue securities that pay USD interest. Our 14th Amendment says we can't default on any of our promised payments. Just keep making the payments, and we may as well also issue a $1 trillion coin to demonstrate we don't have to issue securities.
Read 5 tweets

Related hashtags

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3.00/month or $30.00/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!