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Moody's downgraded the United Sates' credit rating for the first time in history citing unsustainable path for US federal debt and its resulting interest burden. (www.reuters.com)

submitted 3 months ago by cm0002@lemmy.world to c/usa@midwest.social

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[–] 7toed@midwest.social 0 points 2 months ago

And what are we currently printing money for again? I don't say it's wellfare programs. Funding for safety net programs will almost by definition be infinitely less than what the govt dedicates to defense contractors, to conflate that is to perpetute what you think is a dogwhistle to keep social spending limited at best. Regardless what money is 'printed for' it still adds to the tab the same across the board. Take COVID spending, we really did not decrease say defense spending accordingly, so that did absorb some of the inflationary money injected into the economy.