The US can *never* run out of USD.

All Americans could have universal healthcare, housing, education, transport, etc.

Resource availability is the key constraint on fed spending, not money.

Strategic fed spending can lower inflation* not increase it.

The US *creates* USD. Fed spending requires neither taxes nor borrowing.

Debate on US deficits: Stephanie Kelton at Arizona State, April 16 (livestream 8pm ET)

https://stephaniekelton.substack.com/p/my-upcoming-debate-with-stephen-moore

* https://www.youtube.com/watch?v=lN12lOC5qGk

#uspol #useconomy #mmt .

..2

The US can *never* run out of USD.

All Americans could have universal healthcare, housing, education, transport, etc.

Resource availability is the key constraint on fed spending, not money.

Strategic fed spending can lower inflation* not increase it.

The US *creates* USD. Fed spending requires neither taxes nor borrowing.

Debate on US deficits: Stephanie Kelton at Arizona State, April 16 (livestream 8pm ET)

https://stephaniekelton.substack.com/p/my-upcoming-debate-with-stephen-moore

* https://www.youtube.com/watch?v=lN12lOC5qGk

#uspol #useconomy #mmt .

..2

While companies should pay a fair price to use Australian resources such as minerals, household purchasing power, workforce and intellectual property it is wrong to think that they fund Australia.

The federal government funds Australia through its creation of fiat currency. The federal government invests less or more through budget deficits and surpluses.

#auspol #mmt #Taxation #taxavoidance #companytax

https://michaelwest.com.au/corporate-tax-avoidance-who-helps-fund-australia-and-who-doesnt/

Thursday's blog post (27/03) is now posted (16:14 EAST) - What is the purpose of fiscal policy? Don’t ask Rachel Reeves! - https://billmitchell.org/blog/?p=62459 #mmt

Sick to death of the budget surplus deficit rhetoric being peddled at us by the opposition and mainstream media.

A budget surplus should NOT be the goal of any national government.

The goal and role of national government is to provide for the citizens of the Commonwealth of Australia and work towards meeting their needs and democratic demands.

The sooner the voting public realise this the better for them, Australia and democracy.

#ABCNewsAustralia Spreading the myth that Australia’s national budget is like a household’s budget.

The Australian government prints its own (fiat) currency. It can’t run out of money, like a household.

We are heading for a currency collapse:

https://open.substack.com/pub/tdginventor/p/the-economic-elephant-in-the-room?r=1l13ws&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true

#tiereddemocraticgovernance
#mmt #modernmonetarytheory #economics

For there to be too many dollars, or pounds sterling or whatever, chasing too few goods and services - skewing "supply and demand" and causing runaway inflation - national spending has to exceed productive capacity. That's why every nation that has ever experienced hyperinflation, had to have the supply side of its economy destroyed first. That hasn't happened here in the UK, nor (yet) in America.

There's no reason to cut spending, it's a political choice by the wealthiest.

Thursday's blog post (06/03) is now posted (16:53 EAST) - British government spending cuts will probably increase the fiscal deficit and make the 'non negotiable' fiscal rules impossible to achieve - https://billmitchell.org/blog/?p=62410 #mmt

"The decision by the UK Labour government to reduce Overseas Development Assistance #ODA to (according to Starmer/Reeves logic) ‘pay’ for a rather dramatic increase in military expenditure is a classic example of how policy goes astray when mainstream economic thinking in general, and the British fiscal rules, specifically are used to guide policy."

"Wealthy nations are increasingly abandoning their desire to reduce world poverty and inequality and are instead using ODA for other purposes.
"For example, in recent years, Australia has diverted ODA funding from hospitals, education, infrastructure etc and pumped it into maintaining the privatised prisons on Manus Island and Nauru, where we have been sending people seeking refugee protection."

"The British government is not facing a financial shortfall in sterling other than the self-imposed fiscal rules.
"The fact that ODA expenditure does not really compete in terms of available real resources with military expenditure is also telling.
"Moving towards the 0.7 per cent of GNI target for ODA is financially achievable even with an planned 0.2 per cent of GNI increase in military expenditure.
"The fact is that the British government can achieve both goals."

Bill Mitchell: https://billmitchell.org/blog/?p=62391