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MOSLER'S LAW: There is no financial crisis so deep that a sufficiently large tax cut or spending increase cannot deal with it.
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self imposed constraints vs external constraints

Posted by WARREN MOSLER on March 3rd, 2010

I don’t think anyone thinks it would not make any difference to Greece if it was dealing in it’s own currency with the same types of self imposed constraints the US has rather than its current externally composed constraints.

US has legal obligations to pay and self imposed constraints aren’t a valid excuse for not paying.

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This entry was posted on Wednesday, March 3rd, 2010 at 8:59 am and is filed under Currencies, Government Spending. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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