This video is some of the worst propaganda I have ever seen.
All the speakers lament over the consequences of not increasing the debt ceiling, but none addresses either of the following significant considerations:’
- Federal debt once incurred must be repaid.
- Using debt to pay for new spending is dumb. It is smarter to cut existing spending and reprogram the savings to new purposes.
Federal deficit spending increases the volume of money in the general (or private) economy. This can be a good thing, but it is not necessarily so. For example, increasing the volume of money can be good when the existing volume of money is too small to accommodate all the natural transactions that want to occur. Increasing the volume of money just because you want to spend more is foolishness on steroids.
Joe Biden is truly a stumbler: Stumble Joe.