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“If Treasury today issued $1,000 bonds paying 8% or 10% interest, at whatever price the market’s willing to pay, it gets a lot more than $1,000. But the “national debt” only increases by $1,000, the “face value” of the bonds…Money to pay the bills, without increasing the national debt. It could make the debt-limit silliness simply immaterial and moot, forever.” @SteveRoth on Treasury selling premium bonds. https://mastodon.world/@SteveRoth/110414015390778669
@interfluidity @SteveRoth I'm a little disappointed the Ezra Klein piece didn't mention this option. Seems harder for the Court to rule against than some of the others
@djc @SteveRoth like all this stuff, it might be wishful thinking on my part, but i’d note the administration also hasn’t mentioned this option, where they’ve mentioned most of the others to cast shade on them. makes me wonder if they aren’t keeping it in their back pocket.
Luv your optimism.
@SteveRoth @djc of the will, baybee.
If that's a Leni Riefenstahl allusion, lolol.
@SteveRoth @djc omg no, gramsci allusion!
!FormulaParseError ? Gramsci wiki not helping...
(This is deeply important cause my fundamental goal in all hermeneutical efforts is to...get the jokes.)
@SteveRoth @djc https://www.centreforoptimism.com/pessimism-of-the-intellect-optimism-of-the-will
(gramsci died i believe in the prison where he wrote this, alas.)
@interfluidity @djc Aha. Thanks. Good line. Seems that Romain Rolland actually coined it first, in 1920. https://newtranscendentalist.medium.com/a-book-by-raymond-lefebvre-the-sacrifice-of-abraham-reviewed-by-romain-rolland-9b0a79bea6a4
Which timing makes me wonder if Reifenstahl was herself riffing on that...
@SteveRoth @djc ha! i had no idea!