Cortez Embraces Zimbabwe-Economics

Dan Bongino: Answering the question of how she’ll fund the cradle-to-grave welfare state programs she desires for America had been a question that Alexandria Ocasio Cortez shied away from on the campaign trail. As Congresswomen, she’s at least conjured up one idea – taxing incomes above $10 million at 70% per year – though even taxing all incomes above $1 million at 100% wouldn’t pay for a quarter of what she wants to fund.

So what is a socialist to do? Simple – just ignore that debt has consequences.

In an interview with Business Insider, Ocasio endorsed Modern Monetary Theory (MMT), an economic theory that deficits don’t matter since money can also be printed to pay off that debt (hello Zimbabwe and Venezuela). Because the government can print at will, not only do deficits not matter according to MTT, the only purpose of maintaining a level of taxation relative to government spending is simply to regulate inflation and unemployment. As quoted in Business Insider:

She [Cortez] said she was open to Modern Monetary Theory, a burgeoning theory among some economists positing that the federal debt is not an economic restraint for the US. She said the idea, which holds that the government doesn’t need to balance the budget and that budget surpluses actually hurt the economy, “absolutely” needed to be “a larger part of our conversation.”

Ironically, I agree. With our national debt nearing $22 trillion, it absolutely needs to be a larger part of the national conversation, just for the opposite reasons that Ms. Cortez thinks. As you would expect, deficits (and debt) do indeed matter.  more here

26 Comments on Cortez Embraces Zimbabwe-Economics

  1. When debt doesn’t matter, government is a Ponzi Scheme.

    I hope to live long enough to explain this to my grand kids.

    11
  2. I was at the grocery the other day and the guy in front of me rang up $110 in charges. He paid $104 of it on EBT and bitched about having to pay the remaining in cash…for beer.
    The dude was in his mid-forties, Hispanic.

    It’s already fucking over, we are just buying time. 🙁

    41
  3. I honestly expect Boston University to refund Occasionally-Confused her tuition and demand she stop claiming she has a minor degree in economics from the university.

    Oh wait, what…

    13
  4. We working people, those who toil to provide for our families, who involuntarily surrender our sweat earned tribute to the sweetly perfumed political class, so that they can lavish the fruits of our labor on a preferred voting class, have seen enough.

    War is coming.

    24
  5. The KINDA MSNBC’s Lawrence O’Donnell fund provides african students desks and cellphones has turned $10 million.
    Nigerian Level telemarketing.
    Larry, do your EVIL fingers dial?
    Or just the coinbox?
    NBC is LIVE EVIL toxic scum.

    4
  6. Socialism is one hell of a motivator. As a small biz guy that’s employed up to 49 people let me know when socialism is officially instituted so I can sell everything I own and go on welfare. Along with the rest of the small business owners.

    14
  7. Learn Spanish and retire to Columbia, its awesome and dirt cheap. Also, some beautiful Latina women reside there too

    5
  8. I just love that pic of Alexa. She looks like she forgot she painted tiny monsters on her fingernails and they’re scaring her.

    6
  9. This is why gold and silver backed currencies imposed order and monetary restraint on governments. John Maynard Keynes called gold backed currency a “barbaric relic” and believed that common sense and good governance would restrain monetary excess. Politicians wouldn’t buy voters with inflated currency and socialism. All this debt doesn’t mean anything, because it can be paid off with more inflated dollars. The American dollar is worth less than seven cents of what it was when Nixon took this country off the gold standard in order to pay for all those social programs he was buying votes with. That was in 1971.

    5
  10. Cortez is just a symptom of whoever has been backing her. They saw her potential to influence millions of arrogant ignoramuses, and they were right: she is actually doing quite well. Many young people think – literally – that “socialism” means being “doing social good.” They have no idea it is a prelude to fascism, nor do they see how they will be voting away their futures. As this dummy Cortez said, it’s not whether you are factually right, it’s what your intentions are. (Madness, yes. But just look at our young after so many years of leftist control of our educational systems.)

    Cortez is as dangerous a loon as obama, o’dork, that ghoul pelosi and the lot. Depending on our fortitude and resolve to fight the likes of these people, their supporters and their media, this may not end well.

    8
  11. Another way for commies to steal the value of the cash in your pocket without even touching it.
    Voodoo economics indeed…

    8
  12. Worked from Jimmah Catah – he just PRINTED his way out of economic malaise back in the ’70’s and-…

    Oh wait – that was BEFORE Occasional-Cortex was born. Therefore, it NEVER happened. 🙄

    8
  13. Bad_Brad, The nude is supposed to be like the bazooka.

    She’s on coke. Must have picked up the habit as a bartender.

    4
  14. ^ and the paragraph surrounding it is priceless. Alexandria Tarantino-Cortez.

    When the Dems track down her dealer, it’s going to get interesting.

    4
  15. Thirdtwin

    I’m still saying that little sloppy bitch is Eva Peron part 2. Eventually something needs to be done about Socialists in this country. Some poll today resulted in an overwhelming percentage approving of her proposed 70% tax. I guess that why they want our guns.

    10
  16. Bad_Brad, I hope you’re wrong and she’s just another chemically-enhanced asshole who burns out quickly. Look at how haggard she appears now a few short years after her persecution dance video. Not even thirty, she looks rode hard and put up wet.

    But it’s true she loves a fight, is not afraid to bully and obviously holds grudges. If that’s her and not drugs, we could be in for trouble.

    5
  17. AOC is so misspoken that google translate will have to ad her language to translate into English. That’s if anyone gives a second of care to want to understand the idiot.

    4
  18. Thirdtwin

    She’s fighting way above her weight class. How does a freaken bartender in a dive bar go from that to threatening everyone in DC. I think she spent considerable time at the Soros estate getting coached. Anyway you cut it, she’s not a positive effect on our Republic.

    6
  19. Last week there was a headline that many millennials believe they’ll never be debt free and will die in debt in large part due to student loans the gov gladly allows them to consume before they have the ability to realize the impact of having to repay the loans. Any surprise a monetary policy where debt doesn’t matter would appeal to them? They have no concept of fiscal responsibility or freedom being debt free.

    5
  20. FALL BACK TO RED STATES!

    Create a perimeter, collect ammo, convert cash into gold and silver, horde food, and SECEDE.WHILE.YOU.CAN!

    4
  21. Promise unlimited pie-in-the-sky.
    By the time the morons figure it out, you’ll be permanently entrenched.
    (see American History – post WWI)
    16th Amendment, 17th Amendment, Socialist Security, Medicare, ObolaCare, blah, blah, blah – every stupid thing we’ve done (and do) can be traced to the dissolution of Europe – and yet we continue down that path – knowing how it’s going to end.

    izlamo delenda est …

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