Why even have a debt ceiling? Just spend spend spend. If deficit spending is the best, why not just make everyone millionaires. Who cares if we pay it back we'd all be rich and can afford everything we need and then some. Why don't we just do that? Wait fiat economics only work if its structured like a pyramid. What happens in a fiat economy when the bottom falls apart?
They shouldn't have a debt ceiling. It is stupid. And you can't spend past productive output. Giving everyone a million dollars would not do anything except cause massive inflation.
And we don't have to spend spend spend. When you are in a recession you have a lot of human capital sitting idle and a lot of production not being done. The point of spending is to keep people producing and keep people consuming. I don't get why people want to make productivity even worse by cutting off spending. Makes no sense what so ever.
A fiat economy falls apart when people lose faith in the currency. People lose faith in the currency when you either do not get paid (aka default) or the money can't buy anything.
This is not happening in the US. We still have a massive economy, we just have a large pool of unemployed unskilled laborers because we are exporting our labor to sweatshops overseas. But make no mistake, the US is still the leading economy in the world across the board. Highest in technology, science, finance, higher education, software, etc, etc. We are a beast, which is why our "debt" is still in high demand. Look at treasury yields, they are so low and people are still dumping money in to them. People are not afraid of US debt... it actually is the safest investment in the world.
Focus on productivity not money. Money is only a medium of exchange, you still need people to produce shit and buy shit for an economy to work. And the more production and the more consumption the bigger the growth!
