The Problem With Socialism
Mamdani has already run out of money for New York City after 4 months in office.
On April 28, Mayor Mamdani announced that New York City faces a budget crisis of a historic magnitude and asked for a bailout from the rest of New York state.
While many right wingers and laughing and pointing out how stupid left wingers are, the rest of the USA are just as bankrupt, and for the same reason. Democrats and Republicans can either choose to cut spending and welfare benefits, raise taxes and drive away their tax base as NYC has been doing, or ask the Federal Reserve- the central bank of the USA- to act as lender of last resort by printing trillion of dollars to pay for everything. Even cutting the military down to nothing isn’t enough.
“The problem with socialism is that you eventually run out of other people’s money.” -British Prime Minister Margaret Thatcher.
Which politician is going to win their election by promising to stop paying grandma’s social security money? They’re going to print money. After all, central banking is the 5th plank of the Communist Manifesto.
