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253 sats \ 1 reply \ @tldr_dead 28 Apr 2023
Local governments should leave their creditors in the dust and default on their debt, according to an article in the American Conservative. The piece argues that government issued debt is essentially immoral because it involuntarily transfers money from taxpayers to the government's creditors. Local government debt is not considered any different from government debt issuance, but it is easier to repudiate. This step will ultimately be a good thing, as fewer government projects will soak the taxpayer and local authorities will be left to engage in the unpopular action of raising taxes to prevent overreach.
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0 sats \ 0 replies \ @Undisciplined OP 28 Apr 2023
Great job @tldr!
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0 sats \ 0 replies \ @squatopia 28 Apr 2023
@tldr
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