Discover and read the best of Twitter Threads about #debtceilingcrisis
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"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…
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 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.
