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this post was submitted on 30 Nov 2023
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A Boring Dystopia
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My fiscally conservative friend made a point to bring up Biden spending his children's legacy on Ukraine aid every time conversations would turn political. Then the Isreal bombing happened, and he won't touch it. His wife is Jewish.
When the federal government spends it is creating money with the press of a keystroke. It is essentially putting money into circulation. And that money is going to American businesses that make weapons and technology which is then sent to Ukraine. Those American businesses employ American workers.
Government spending creates money, it doesn't create debt. Too much government spending could create inflation though.
Any amount of money printing in this context adds to inflation. Every dollar printed devalues the rest
Though AFAIK controlled inflation is healthy for economy. At least in comparison to deflation.