Austerity Will Destroy Us

We discuss the danger of "paying off the national debt". The federal government does not operate like a household, decreasing the deficit means a death spiral for the people.

Full Episode: https://youtu.be/tl0H4C2xb44

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In this video, we dive deep into how government tax unemployment policies impact the economy, challenging the narratives around austerity mainstream media often pushes. We explore how government debt discipline leads to measures like austerity, which supposedly aims to address private sector debt and balance the budgets—but does it really work? We break down the myths and realities, offering an mmt austerity solution that flips the script on conventional wisdom. Learn why government money injection is critical, and why some argue austerity is murder when it strips the economy of necessary resources.
We also discuss how taxation private sector dynamics play out, especially when budget surpluses depression cycles have historically followed attempts to pay off national debt. This modern monetary theory explained segment unpacks why government spending economy health relies on injecting money, not just cutting back. Curious about the purpose of taxation mmt perspective? It’s not just about revenue—it’s about giving money value. And what about inflation money printing fears? We simplify it with the bathtub example economics model, showing how unemployment government spending and productive capacity economy growth can coexist without spiraling prices.