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Like modern monetary theorists, Congress already appropriates away until it reaches real-world restraints on how much it can spend. It just hasn't reached any for almost the last two decades. When Washington wants something — to fight a war, to cut taxes — it appropriates. And so arguments about balancing budgets aren't actually about constraints. They're about priorities. Important programs get appropriations, full stop. Unimportant programs need to be paid for with taxes.
Or, in Washington: "We can't afford that" actually just means "I don't think that's very important."
https://ftalphaville.ft.com/2019/01/16/1547640616000/America-has-never-worried-about-financing-its-priorities/
This is exactly right. This is how everything is paid for.
A Congressional appropriation *is* the “pay-for.”
https://twitter.com/StephanieKelton/status/1085526951597608961?s=20
Or, in Washington: "We can't afford that" actually just means "I don't think that's very important."
https://ftalphaville.ft.com/2019/01/16/1547640616000/America-has-never-worried-about-financing-its-priorities/
This is exactly right. This is how everything is paid for.
A Congressional appropriation *is* the “pay-for.”
https://twitter.com/StephanieKelton/status/1085526951597608961?s=20
