A chicken in every pot, and a unicorn in every garage. That’s the progressive dream.
No, seriously, they are dreaming, and they must have smoked something crazy before bed.
I almost couldn’t even write about this subject because I just kept staring at my computer screen wide-eyed and shaking my head. Really? Is this seriously being passed off as economics and news?
The larger the universal basic income, the greater the benefit to the economy, according to the report.
A $1,000 cash handout to all adults would grow the economy by 12.56 percent after eight years, the study finds. Current Congressional Budget Office estimates put the GDP at $19.8 trillion. The cash handout would therefore increase the GDP by $2.48 trillion. (Vox first did this extrapolation in their coverage of the report, and Steinbaum confirmed the accuracy of the extrapolation to CNBC Make It by email.)
Wow! You’re saying that by the U.S. government simply creating money out of thin air, we can increase the amount of money in existence! Why didn’t we think of this before? Why are we only $20 trillion in debt! why not go $200 trillion in debt. Why not $900 trillion?! Who cares, it just boosts the economy.
The super-serious-legitimate-intellectual study found that the larger the handout, the more the economy grows! Hear that? We can all be millionaires! It’s easy street from here on out.
We can all quit our jobs at the factories, farms, grocery stores, and office buildings. Things will keep being produced, sold, and organized according to the report.