The US National Debt sits at $26 trillion. Can we even fund another stimulus, the RESTART Act, Save Out Stages (SOS) Act, or any other aid package? We absolutely can, and it’s something event promoters have been doing forever.
The economy is doing poorly. If a concert is selling poorly, what do you do? You “paper the house” (give out free tickets to fill the room).
When we give out free tickets, we’re not going into ‘ticket debt’. We’re just creating value and distributing it out to people who want to go.
Similarly, the US creates its own currency. When it spends money, the ‘debt’ is mostly irrelevant. It just creates value and distributes it to people who need it (via jobs and federal aid).
A caveat:
If you paper too much and hit capacity but there are still people paying to go, then people will start re-selling tickets at a much higher price. This is inflation.
Similarly, if you inject so much money into the economy that everyone is employed and no one needs federal aid to live, then inflation will happen.
We are so far from that point that increasing government spending is ONLY going to help people and businesses. There is NO excuse.
Dear Congress: Paper the house and Save Our Stages!
