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Ireland paid artists a basic income and it was a boost for the economy (www.good.is)

submitted 2 weeks ago by sundray@lemmus.org to c/neat@lemmy.world

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[–] Pringles@sopuli.xyz 2 points 2 weeks ago

Yea, wellfare states are nice when the economy is booming but quickly run up debt when it's not. It's a nice idea, but not viable in the long term. In the end for each penny of government spending there needs to be a penny coming in from somewhere.

This can be largely mitigated by cheap financing but also then you see the inevitable downturns and the debt has accrued to unsustainable levels. Financing like that is passing the bill on to later generations (hard stare at the boomers).