Birdwatch Note Rating
2024-03-14 09:35:56 UTC - HELPFUL
Rated by Participant: 898A45B5B462D429B87940A4BF953D4DB30234FC8B8F88C17D05423D9DF68D18
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
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