If a government borrows and invests the funds in to productive assets (high speed fiber internet for all, better education, etc) that generate a higher return than their funding cost clearly that’s a productive thing to do
And so, we come full circle from my challenge that you objected to without answering it and the author, regardless of her age or experience, has yet to respond to. She, I’m sure, is too busy writing her next piece of fear porn to mislead the uninformed.
I will restate that challenge as a reminder and direct it to you as well. Please enlighten me how the monopoly issuer of our nation’s currency can “borrow” currency with the intent of increasing the money supply to enable spending. This is simple logic and math, not ideology. The currency supposedly being borrowed so it can be spent on project x, y, or z must already exist, meaning it came into being by means of previous (deficit) spending by Congress and is now someone’s asset available to be invested.
This makes the interest payment on our “national debt” a net injection of new currency, not an “obligation” of taxpayers. Every liability is someone’s asset in the world of spreadsheet accounting. Many faux conservatives who are using the debt as a bludgeon would be the first to squeal if we simply ended the issuance of Treasury bonds, which is entirely possible as they are not a “funding” mechanism.
Congress needs no “funding” to enable its spending as the Constitution clearly defines the currency as self-funding and mandates that Congress create it “for the public welfare”. There are, of course, real limitations that involve real resources and available labor to that spending, but those aren’t defined by a number or limited to what “revenue” Congress can obtain.
Once one understands that the unique position as “currency issuer” transfers rights and obligations well beyond those of any entity not the federal government then the concept of debt and tax revenue change entirely. They both become currency “drains” useful only in controlling the money supply and inflation, not revenue to spend. From this perspective, the holy grail of all politicians, a balanced budget, becomes a 100% tax rate and the term “tax revenue” becomes an oxymoron useful only to deceive regular morons.
