of course they are. but just like the fed isn't bailing out local governments, they aren't going to use the money hose to fund SS. this is the same playbook they always use: defund - declare ineffective - privatise
The Federal Reserve is printing money to buy things to make sure there is liquidity, that's different from spending money on a program. The Fed could theoretically fund things if it was designed to do MMT but that isn't what it doing just now
MMT describes the flow of money in modern economies, when ever congress passes a bill theres a funding part attached that instructs to make funds available, that permeates through the banking system ensuring funds are available.
The issue of defunding medicare is correct, but is not something that will take effect until the next budget cycle when either party want to make it an issue, pretending that medicare will run out of money during the pandemic is a political argument championed by neolibs and conservatives but has little relation to material realities of a modern fiat economy.
Payroll tax heavily funds Medicare, not the coolest thing to do during a fucking pandemic
They're printing money like theres no tomorrow, the only people who care about the "How are you gonna pay for it" is weak willed neolibs bs.
I suggest reading up on "Modern Monetary Theory" so you wont get trapped in this fallacy.
MMT is true and the payroll tax cut is an attempt to kill SS. Both are true.
MMT is not true.
Yes, it is.
No it's not.
of course they are. but just like the fed isn't bailing out local governments, they aren't going to use the money hose to fund SS. this is the same playbook they always use: defund - declare ineffective - privatise
It's an excuse to cut in the future for sure, but for right now your taxes don't do jack shit to change anything so the "during a pandemic" is bs.
The government doesn't wait to collect taxes before it funds shit, hasn't worked like that since US went of the gold standard.
I understand that, I'm saying they're using a crisis as pretext to achieve what they wanted anyway.
yes its called capitalism
guns pointed at the rest of the world is how we'll pay for it lmfao
The Federal Reserve is printing money to buy things to make sure there is liquidity, that's different from spending money on a program. The Fed could theoretically fund things if it was designed to do MMT but that isn't what it doing just now
MMT describes the flow of money in modern economies, when ever congress passes a bill theres a funding part attached that instructs to make funds available, that permeates through the banking system ensuring funds are available.
The issue of defunding medicare is correct, but is not something that will take effect until the next budget cycle when either party want to make it an issue, pretending that medicare will run out of money during the pandemic is a political argument championed by neolibs and conservatives but has little relation to material realities of a modern fiat economy.