kibiz0r

Good point.

If you like video format: Finding The Money is a great documentary on how sovereign currency has worked historically, how it works in the US right now, why the national debt and spending deficits aren’t (necessarily, by themselves) something to worry about, and what to worry about instead: inflation, physical resources, and labor utilization.

If you prefer reading: “Retiring the US debt would retire the US dollar” by Cory Doctorow is a good short read, and Stephanie Kelton has a book The Deficit Myth which I’ve heard is good too.

balanced budget amendment

Nonononono.

The federal government has achieved fiscal balance (even surpluses) in just seven periods since 1776, bringing in enough revenue to cover all of its spending during 1817-21, 1823-36, 1852-57, 1867-73, 1880-93, 1920-30 and 1998-2001. We have also experienced six depressions. They began in 1819, 1837, 1857, 1873, 1893 and 1929.

Do you see the correlation?

The one exception occurred in the late 1990s and early 2000s, when the dot-com and housing bubbles fueled a consumption binge that delayed the harmful effects of the Clinton surpluses until the Great Recession of 2007-09.

Because:

National debt is not like individual debt.

National debt is not like individual debt.

National debt is NOT like individual debt!

But at least our most senior treasury officials must understand this, right?

Treasury.gov site:

Key Takeaways

The national debt is composed of distinct types of debt, similar to an individual whose debt may consist of a mortgage, car loan, and credit cards.

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Marshals can also deputize, and they’ve already deputized Elon’s private security.

“Memes”? More like “MeMeMeMeMes”! 😶

https://midwest.social/comment/15965783

US Marshals, part of the executive branch. They recently deputized Elon’s security guards.

A storm descends on a small town, and the downpour soon turns into a flood. As the waters rise, the local preacher kneels in prayer on the church porch, surrounded by water. By and by, one of the townsfolk comes up the street in a canoe.

“Better get in, Preacher. The waters are rising fast."

"No," says the preacher. "I have faith in the Lord. He will save me."

Still the waters rise. Now the preacher is up on the balcony, wringing his hands in supplication, when another guy zips up in a motorboat.

"Come on, Preacher. We need to get you out of here. The levee's gonna break any minute."

Once again, the preacher is unmoved. "I shall remain. The Lord will see me through."

After a while the levee breaks, and the flood rushes over the church until only the steeple remains above water. The preacher is up there, clinging to the cross, when a helicopter descends out of the clouds, and a state trooper calls down to him through a megaphone.

"Grab the ladder, Preacher. This is your last chance."

Once again, the preacher insists the Lord will deliver him.

And, predictably, he drowns.

A pious man, the preacher goes to heaven. After a while he gets an interview with God, and he asks the Almighty, "Lord, I had unwavering faith in you. Why didn't you deliver me from that flood?"

God shakes his head. "What did you want from me? I sent you two boats and a helicopter."

Nobody:

Me: Remember to do your part and crop out the useless “Nobody:” before posting memes

Just don’t fall asleep during the update.

Lemme know when they release an OTA for our parietal lobes.

Yikes, there’s a 25 around here that shows up as a 55 in Google Maps.

Also a 55 that goes down to I think 35 for just a moment when it joins up with a side road. I wonder what a Tesla would do if it was following that data.

Is that just to cover his ass cuz he was promising backwards-compatible FSD for models that don’t have LIDAR?