999
the debt
(lemmy.world)
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 07 Jun 2024
999 points (92.2% liked)
Memes
45727 readers
987 users here now
Rules:
- Be civil and nice.
- Try not to excessively repost, as a rule of thumb, wait at least 2 months to do it if you have to.
founded 5 years ago
MODERATORS
Micro-economics vs. macro-economics
I strongly encourage people who still think like OP to look up what happened the last time we paid off the national debt.
...link?
Andrew Jackson sold off enough Native American land to cause a real estate bubble, and between that and other things started a bank run, and the kind of people that think they'll win the shell game pretend it's because non-productive debt is good, and the problem was elimination of debt, not how it was done and other circumstances (among them being on a gold standard so you can actually do a bank run)
https://www.history.com/this-day-in-history/andrew-jackson-national-debt-reaches-zero-dollars