Sunday, February 19, 2012

U.S. decides to rent rather than own


Fifty years after John Glenn became the first American to orbit Earth, NASA no longer has the ability to fly astronauts in space, a decision Glenn lays squarely on the shoulders of the Bush administration.
Read it at Reuters
Fifty years after Glenn flight, U.S. buying rides to space
by Irene Klotz

Problem? You guessed it. "Lack of affordability." Which anyone who understands MMT knows this reasoning is just silly when a government funds itself through currency sovereignty.

Moreover, it fails to recognized the pay off of wise public investment in the nation's future, such as technological innovation and basic research.

"If there's one thing we have learned through the history of our country, it's that money spent on basic research has a way of paying back in the future beyond anything we ever see at the outset," [Glen] said.

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