Guest Opinion by Don Thompson of Coeur d’Alene
NO — It makes no sense to pay interest when something like an aircraft carrier cannot be built with interest payments to U.S. citizens or with interest payments to anyone else. The Cd’A Press editorial of Dec. 15, 2024, demonstrates just how mal-information, dis-information, mis-information and plain propaganda infects and distorting actual economics with a pseudo mantra of spending just because it increases the size of the federal government.
Paying interest does nothing to reduce inflation, it only requires borrowing more money to increase the debt. And yes, the Cd’A Press fails to see the problems of intertest spending because they fail to see the U.S. government does not make money, it only spends what it takes from U.S. citizens. As far as I know the Ukrainians, Iranians, Russians, and many other nations do not pay U.S. federal taxes. Why is our spending supposed to benefit those foreigners when interest spending is gobbling up U.S. revenue? It cannot, and the cause makes no difference.
Modern Monetary Theory (MMT) only works for far-left progressives. Spending as if it costs nothing is the mistake many people make individually, as does government’s mis-information dis-information and mal-information spending for no reason other than servicing old debt. Nothing new gets built, so nothing can be applied to the debt, nor can anything be applied in any way to reduce resultant increased inflation. Inflationary spending stops growth.
But YES — According to The Press, just spend. Your debt makes no difference because the U.S. debt makes no difference? Go to school. Perhaps one of our high schools has an actual teacher that will tell you just how bad debt is for progress. You cannot buy a boat with interest. You cannot buy a house with interest. You cannot fill a Washington D.C. empty government building with working federal government employees with interest.
Pile on the spending and then wonder why the left insists on personal income tax for everyone except those in power like Joe Biden. That is correct, he did not pay his federal income tax on $27 million in income. Redefining spending to prop up globalist adventures for no purpose other than killing is also a Democrat problem. Their hate is highlighted brightly by constantly wanting war as if nothing is destroyed and as if no one is killed while demanding political kickbacks from spending. Lack of imagination and reliance on war for growth does define many Democrats.
War is destructive, not constructive.
War and its spending, not because it benefits someone (not the U.S., not one of our allies) but just because it’s necessary to prop up the military industrial complex, is destructive. Even your mother told you not to spend that way. Now, thanks to Joe Biden, spending on propaganda has reached a new high and this Cd’A Press editorial reflects the damage done by the left’s propaganda.
