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96 points robtherobber | 1 comments | | HN request time: 0.2s | source
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mc32 ◴[] No.45675831[source]
If Covid conditions had gone on longer, decades, then output would have gone down, the treasury from which subsidies and government checks came from would have dried up. Even bullshit jobs add to GDP. Even socialist and communists had bullshit jobs to keep people busy.

That said, the jobs I’d consider non essential are things like advertising, lifestyle, gambling/gsming and the sort. They add to the economy but I’d rather not have them.

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jmcmichael ◴[] No.45676539[source]
Federal spending is not funded by taxes, the US Treasury will never 'dry up', and the US will never default on its debts or entitlements. It may fail to pay, however that is not a default, it is a refusal or repudiation of an obligation.
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mc32 ◴[] No.45676578[source]
...so paying taxes is just there to control people and expropriate their money? Please let Newsom in on this discovery. He says he's for the common man and woman. He's gotta do something.

But sure, Weimar had more money than god --it just had no purchasing power.

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1. jmcmichael ◴[] No.45677327[source]
Regarding Newsom, US states are far more constrained in their spending bc they cannot create money, and must account for their expenditures more like a household or corporation. Social benefit programs, entitlements, etc. must therefore by managed and paid for at the Federal level, just like all of the goods and services that we, as a society, deem it necessary to produce regardless of whether it makes a profit or not - like most of the core transportation infrastructure, the global military empire, fundamental science, engineering, medical research and services, etc.