Say “Not You Too” To The People’s Budget 1

I knew when I made my previous post, Do Not Sign the petition, Do Not Be a citizen co-sponsor of the People’s Budget, that this budget would be hawked relentlessly. Well, I can tell people “no” almost as often as they try to sell it.

The National Priorities Project has this posted on Facebook.  Here is their innocuous looking poster.

People's budget poster

Unfortunately, this budget also promotes the myth that increased federal spending in one area must be paid for by cuts in another area. This is as if a country that is sovereign in its own fiat currency could ever run out of its own money. For that reason, I cannot support this people’s budget that legitimizes the myth’s that the oligarchs want us to believe.

A budget should promote a healthy economy, full employment, and decent standard of living for all. Under these conditions, the deficit will take care of itself. The deficit should never be used as a primary measure of the success of an economic policy.

As proof that the oligarchs do not believe the myth that they want us to believe, consider the following: even Republicans tell you that when you want to go to war to support the military/industrial complex, deficits don’t matter. By their perverted logic, deficits are only a roadblock if you try to spend the money on anything that you do not blow up in the act of using it. To put it another way, the Republicans seem to believe that you should never go into deficit to actually help anybody lead a decent, peaceful life.

Perhaps the “People’s budget” is what happens when you let budgets be created by amateurs, or by people who believe in myths, or by amateurs who believe in myths, or by oligarchs who will promote their myths one way or another.

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One thought on “Say “Not You Too” To The People’s Budget

  • SteveG Post author

    Another reason why deficits are a poor measure of the quality of an economic policy, is it is not just the size of a deficit that might matter, but also its composition. For instance a smaller deficit than we have now could actually be more stimulative than the one we have now, if the deficit were cut by very high tax rates on the oligarchs, such a tax would help drain the excess money that the oligarchs have and use to inflate speculative “investments”. If that money would be used to make all the investments that this country ought to be making in the items touted by the People’s Budget, then the economy would bounce back faster than it is right now. This tax would also preclude another bubble and bust cycle, because we took the potential to inflate the bubble away from the oligarchs.