Deficit Owls 🦉 (@DeficitOwls) header
Deficit Owls 🦉 (@DeficitOwls) profile picture

Deficit Owls 🦉

@DeficitOwls

Citizens supporting full employment and price stability. Pushing back on deficit hysterians. Modern Money Theory (MMT). @OwlReserveArmy and @ModernMoneyMeme

 All fiat currency governments.
facebook.com/DeficitOwls/
Joined August 2016
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Photo by Deficit Owls 🦉 (@DeficitOwls)
In time for the holidays, the Deficit Owls shop has been revamped and we've got new designs. And they're on sale for the next 2 weeks, 15% off! Buy MMT clothes and accessories to encourage conversations about fiscal reality (at no profit to us)! shop.spreadshirt.com/deficit…
Deficit Owls | Spreadshop

Deficit Owls | Spreadshop

Clothes and accessories to be conversation-starters for Modern Monetary Theory enthusiasts.

deficit-owls.myspreadshop.com
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Deficit Owls 🦉 retweeted
UMKC Econ Club (@UMKC_Econ_Club) profile picture
UMKC Econ Club@UMKC_Econ_Club8 Nov 2021
Earn a Master’s or PhD in Economics at the forefront of finance research and Modern Monetary Theory. UMKC offers a pluralist economics education taught by a diverse and engaged faculty. Study an economics that can face up to society's urgent challenges. cas.umkc.edu/areas-of-study/…
Image from UMKC Econ Club (@UMKC_Econ_Club)
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But MMT adds nothing new to the conversation, they said!! We all knew all that already, they cried!!!
Burgess Everett (@burgessev) profile pictureBurgess Everett
@burgessev29 Sep 2021
New Manchin statement says he's made clear to Biden and Dem leaders "that spending trillions more on new and expanded government programs, when we can’t even pay for the essential social programs, like Social Security and Medicare, is the definition of fiscal insanity"
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So can you see why the Trillion Dollar Platinum Coin proposal would not be inflationary even though it’s “printing money?” Levels of government spending and taxing would be the same in either case. We’re only talking about what form savers hold their savings in. #MintTheCoin
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If prices were going to rise, it would have happened earlier in the story: either when the government bought goods and services, potentially bidding resources away from other uses by offering a higher price; or when private actors spent that money, before it ended up in savings.
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What happens if the government doesn’t provide bonds? Well then savers are stuck holding their savings in money instead. Isn’t that “printing money” though and doesn’t it cause inflation? No: why would prices be affected by what form savers hold their savings in?
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Government spending happens FIRST and it only happens with money. Later, as that money filters into people’s savings, the government sells bonds in order to change those savings into forms that savers prefer, i.e. bonds instead of money.
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We issue our own currency. There is no “underlying debt problem.”
Jessica Riedl 🧀 🇺🇦 (@JessicaBRiedl) profile pictureJessica Riedl 🧀 🇺🇦
@JessicaBRiedl19 Sep 2021
Replying to @JessicaBRiedl
All 8 major deficit reductions laws since 1985 were attached to debt limit bills. Congress should raise the debt limit, but attach some good-government reforms to address the debt and budget gimmicks so that we're actually treating the underlying debt problem (3/)
Image from Jessica Riedl 🧀 🇺🇦 (@JessicaBRiedl)
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