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Corbin Trent's avatar

Anyone actually read the piece? Just curious.

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Bill Miller's avatar

Just to be clear, if “spending is out of control” it is *not* because the government spends too much money but rather it spends too much on things that don’t actually benefit the country and its citizens (which the author makes clear later in the post.)

Because we have a debt-based currency system, federal spending is the way money gets into the economy in the first place. Cut federal spending and you’re cutting the money supply. Then we end up with inflation, recession, depression.

The central problem is that, since the 1970s, monetary policy has increasingly been about further enriching already rich corporations and private citizens — while leaving the lower and middle classes increasingly at the mercy of the former. (And when it comes to profit-seeking, they generally have no mercy.) That is what made half the country angry and hopeless enough to vote for someone who would burn it all down.

There is one solution — clear to me, but probably too radical for the national mindset: it is time to dethrone the profit motive as the primary reason for individual and corporate activity. Profit-seeking works during the building phase of and endeavor - be it a career, company, or country. Yet once that entity reaches maturity, it must shift to a steady maintenance mode of operation. If not, continuous profit-seeking becomes a cancer that eventually destroys communities, educational opportunity, healthcare, small business, the environment, international relations — and the very human soul.

If you need any evidence, just pick up a newspaper or turn on the TV.

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