CBO weights in on Build Back Better bill

[America 1st]

 

[skramer100]

add a decimal to that number. that's how the cbo works.

 

[TopHook]

Is there not a sarcastic "gasp" emoji?

 

[shiv]

Debt and deficit are meaningless. Modern monetary theory says you can just print

 

[STMF2X]

 

[America 1st]

Debt and deficit are meaningless. Modern monetary theory says you can just print

Ben Franklin understood MMT:

“Franklin argued that a well-run paper currency would ultimately benefit everyone: An adequate money supply lowers interest rates, encourages trade, creates more demand and raises the value of the colony’s products. He insisted that “labouring and Handicrafts Men (which are the chief Strength and Support of a People)” would move to Pennsylvania and those who were present would stay. Otherwise, skilled workers would seek “entertainment and Employment in other Places, where they can be better paid.”

Franklin simply made a pragmatic case: Paper money would solve the particular problem at hand. But what came next was his great revelation. How could paper currency ever be “real” money? Franklin’s answer was to recognize that money itself was simply a medium of exchange, a measure of value rather than its storehouse.”

Benjamin Franklin’s Greatest Invention

Citizen Ben figured out how to make paper money as valuable as gold or silver coins—and got rich in the process.

www.historynet.com

Paper currency is as American as apple pie.

 

[BigBucnNole]

$36.7 billion annually for a $1.5 trillion spending bill isn't really anything. It's virtually budget neutral. Probably have some state infrastructure pull back when they can use fed funds in place of state.

I'm curious to see what's going to happen when States have all the money. Florida's reserve fund is over 7 billion right now, which is bat shit insane. Not that it's easy to get ahold of, nor would you necessarily want to, it is "talk back" money.

Edit: just pulled New York State's reserves and they are at $2.5 billion. Also high.

 

[TopHook]

$36.7 billion annually for a $1.5 trillion spending bill isn't really anything. It's virtually budget neutral. Probably have some state infrastructure pull back when they can use fed funds in place of state.

I'm curious to see what's going to happen when States have all the money. Florida's reserve fund is over 7 billion right now, which is bat shit insane. Not that it's easy to get ahold of, nor would you necessarily want to, it is "talk back" money.

Edit: just pulled New York State's reserves and they are at $2.5 billion. Also high.

What is SF reserve? Just curious.

 

[BigBucnNole]

What is SF reserve? Just curious.

Stabilization Funds? What context?

 

[TopHook]

Stabilization Funds? What context?

comparing fl to sf reserves.

 

[BigBucnNole]

comparing fl to sf reserves.

Who is SF?