Listen, the debt problem is still a debt problem that isn't fixed in one year and definitely not this year or the next couple. We aren't near a tipping point on debt so out of all our problems right now that one is sitting very low at the bottom. There are many lenders standing quite happily to provide debt to California for ultra cheap rates.
We aren't getting out of this pandemic financial mess through cutting spending. Literally no republican or democrat is pitching that solution - do you have your own economic crystal ball to read the future? Go look to how that worked out for the austerity measure put in play in the EU or during the great depression.
As well right now debt is ultra cheap so any borrowed money to cover downtime when people can't work to protect their health is likely going to have upside in generation of jobs, general well being and future revenue.
If you want to go take that generational wealth tax fight argument probably better to start with the federal government instead of wagging your finger at California.
And in terms of stability of the system that is a much larger macro economic question. There is a great amount of debate in the academic community on how much debt countries can sustainably support especially with Modern Monetary Theory getting traction. I don't think MMT is grounded in its origins but it has pointed to a greater sustainability of deficit on our countries balance sheet as well as us getting to a higher level of employment in our population than we had previously though.
We aren't getting out of this pandemic financial mess through cutting spending. Literally no republican or democrat is pitching that solution - do you have your own economic crystal ball to read the future? Go look to how that worked out for the austerity measure put in play in the EU or during the great depression.
As well right now debt is ultra cheap so any borrowed money to cover downtime when people can't work to protect their health is likely going to have upside in generation of jobs, general well being and future revenue.
If you want to go take that generational wealth tax fight argument probably better to start with the federal government instead of wagging your finger at California.
And in terms of stability of the system that is a much larger macro economic question. There is a great amount of debate in the academic community on how much debt countries can sustainably support especially with Modern Monetary Theory getting traction. I don't think MMT is grounded in its origins but it has pointed to a greater sustainability of deficit on our countries balance sheet as well as us getting to a higher level of employment in our population than we had previously though.