John Griswold
1 min readApr 13, 2019

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I totally doubt that Republicans would agree with anything you have written. If they accepted any portion of MMT then they would be directing their tax cuts at consumers through infrastructure spending or payroll tax cuts, not directing those cuts at the very wealthy, and would not be continually trying to cut the social side of government spending. Their deficits stem directly from their insistence on increasing military spending, one of the least efficient ways to get deficit spending into the Main St. economy, and their inability to “starve the beast” of social safety net and “entitlement” spending. Association is not necessarily causation. I don’t see the logic of needing government deficit spending to retire mortgages. The money supply is in the multiple trillions, all available to make mortgage payments or pay off mortgages. I’ve been reading MMT explanations and while some of them make good sense, some seem to focus on very strange claims. Can’t see why the fact that the treasury would destroy old cash used to make tax payments implies that the treasury destroys all tax payments. The treasury needs to cut hundreds of billions in monthly checks, why would it not credit its accounts with the hundreds of billions it receives tax payment checks it receives and then write treasury checks against those credits? Doing anything else would seem to be phony accounting.

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John Griswold
John Griswold

Written by John Griswold

Master carpenter, watercolor artist and beat up old jock…owned by Black Lab Bo who considers two tennis balls a minimum mouthful

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