this post was submitted on 14 Feb 2025
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Could it mean that we’re finally free of the arbitrarily chosen debt ceiling? This is a liberal miracle.
That's what she's proposing. Considering recent events there is no other immediate way to strengthen our defense. I imagine it will be approved by the European Council.
Also, I prefer to have something protecting our lives and debt, than have nothing and die wealthy.
They'll use the need to spend more on defense as a reason to cut down on spending for social causes.
Preaching to the choir here, but people need to strat voting more left. The AfD in Germany, currently at 20%, will just destroy the institutions weakened by moderate conservative rule.
Don't worry, liberal are OK to let rich lend more money to the government, not to let the rich pay taxes or let inflation erode the rich's saving.
When a government gives a similar amount of interest to the rich than education spending there is something fucked up
Rich will find a way to profit from everything but I think in this case it’ll be limited to government contracts and not profiting from the debt itself.
Government debt and public investments are a rich man’s nightmare. First of all, they can’t easily profit from it because it’s low interest due to reliability of governments in general. That means that most of this kind of debt is held by pension funds or banks that have to meet their regulatory needs on liquidity and safety.
Second, if it’s issued in a domestic currency then the debt can be devalued by issuing more currency, meaning rich lose out considerable amounts in nominal value because of how much money they are sitting on. This affects others who have most of their wealth in basic possessions like flats, cars but to a much lesser extent.
And lastly, public spending means collective bargaining and non-commercial ways of satisfying human needs like education, health etc. In the ends it’s much more cost effective for all of us.
This is an okay compromise. Ideally in a capitalist society there’d be wealth based tax that would go towards defence spending since poor have nothing to defend. That obviously won’t work since fairness is not a point in capitalism.