What Everyone Gets Wrong about Austerity
1The key points are as follows. #1: DON'T PAY OFF YOUR DEBT if you're a global debtor like the US -- if you do, then you no longer have leverage against other countries. #2: The portion of the debt that you DO want to pay off for the US is the part that it owes to its own public, which means spending money on public infrastructure, welfare, and services that people would benefit from for free at the point of service (and that would also yield massive dividends down the line). Budget cuts are just dumb as hell because all they do is hollow out a country's economy, but they're nice for giant corporations who want to privatize everything so they keep happening over and over.
#politics #economics #mariokartwii #austerity
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