Birdwatch Note Rating
2024-03-14 11:14:30 UTC - SOMEWHAT_HELPFUL
Rated by Participant: 3C019D21D6CE595CC6765582A24F4FA8DA6BCEE152EED41719054F62CCA0FFEF
Participant Details
Original Note:
The UK is a sovereign currency issuer, taxation hasn't funded Govt spending since Bretton-Woods ended in 1971. Further, something being "unfunded" is a product of arbitrary payback assumption made in the budget model. Explanation of treasury accounting: https://x.com/malcolm_reavell/status/1685589853214220288?s=46&t=t31znkurlEmNGMU4EYog2g
All Note Details