France now has "one of the worst" public deficits in its modern history, the newly-installed Minister for Economy, Finance and Industry Antoine Armand said Tuesday. He also confirmed that new taxes on…
Deficit is a good thing for the most part. It literally means by definition the government is putting more money into the economy than it’s extracting, which increases the capacity of families and businesses to save and to spend. Surplus means, by definition, that it’s collecting more money from the economy than it’s reinvesting into it, which literally, by definition, makes people poorer.
The problem isn’t with deficit itself, public expenditure is cool, the problem is where it’s spent. We want fewer corporate bailouts and fewer corruption schemes, and more investment in education, healthcare and pensions.
Don’t worry, now that we have a right-wing government for some reason, they will finally fix our spendings by slashing public expenses in education, accessibility, healthcare, and instead will give even more to corporations and billionaires. Don’t forget a sprinkle of racism and LGBTQIA-phobia and we’re set!
Milei managed to improve on the deficit a lot! Turns out all you needed to do is to put 3/4 of your country in poverty and destroy 3.4% of GDP in a year! And you’ll solve inflation as well, prices can’t rise if people don’t have money to buy things!!
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Deficit is a good thing for the most part. It literally means by definition the government is putting more money into the economy than it’s extracting, which increases the capacity of families and businesses to save and to spend. Surplus means, by definition, that it’s collecting more money from the economy than it’s reinvesting into it, which literally, by definition, makes people poorer.
The problem isn’t with deficit itself, public expenditure is cool, the problem is where it’s spent. We want fewer corporate bailouts and fewer corruption schemes, and more investment in education, healthcare and pensions.
Don’t worry, now that we have a right-wing government for some reason, they will finally fix our spendings by slashing public expenses in education, accessibility, healthcare, and instead will give even more to corporations and billionaires. Don’t forget a sprinkle of racism and LGBTQIA-phobia and we’re set!
Balanced for inflation?
5.6%of GNP is well above the 2% inflation rate and France economy is also not growing fast at forecasted 0.7%.
MMT: https://www.vox.com/future-perfect/2019/4/16/18251646/modern-monetary-theory-new-moment-explained
I know what to do, let’s hire the right wing!! /s
Milei managed to improve on the deficit a lot! Turns out all you needed to do is to put 3/4 of your country in poverty and destroy 3.4% of GDP in a year! And you’ll solve inflation as well, prices can’t rise if people don’t have money to buy things!!
Laughs in American 😭