Birdwatch Note Rating
2024-03-14 07:24:18 UTC - NOT_HELPFUL
Rated by Participant: DE22E5C40331C1E14B95EF9DC022FA7094E1F6E3E3E64BE394094D7FE3E7EDAE
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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