I gotta love Bernie Sanders, because he seems so much like people I grew up with and like myself too, and he also seems to have that passion for equality and democracy that is so important for the future of America. Sometimes I think Bernie is one of the few champions of the people left in Congress. But I also think that along with other progressives he has constructed chains for himself that prevent him from being as effective a champion of the people as he otherwise might be.
Tag Archive for modern money theory
Contributors- Economic and Financial, Must Read
Dick Durbin Insults Everyone Else’s Intelligence About Social Security – New Economic Perspectives
by Joe Firestone • • 0 Comments
The “. . . may run out of money. . . . ” and “. . . dealing with entitlements. . . “ memes, in reply to Chris Wallace’s question together suggest that a deal trading increased revenues for Social Security and other entitlement cuts is acceptable
Contributors- Economic and Financial, Must Read
Off the Debt Limit Hook for at Least the Next Four Months – New Economic Perspectives
by Joe Firestone • • 1 Comment
Provided that the Senate and House follow through on the scenario now on the table, it looks like the game of chicken worked for the Democrats this time. We’re off the hook on default and Government shutdown for now, and Washington village pundits are in full-throated cries of celebration.
Contributors- Economic and Financial, Must Read
Rationalization and Obligation, Part I: No Magic Bullets? New Economic Perspectives
by Joe Firestone • • 0 Comments
The media and politicians in both parties are still largely echoing the Administration’s framing of the fiscal situation and absolving the President of his share of the blame for the debt limit crisis. They’re reinforcing his message They’re also preparing the way for a compromise, that will, almost certainly, result in hurtful cuts to Government spending including renewed consideration of “the Great Betrayal,” also known as “the Grand Bargain,” including passage of the chained CPI cuts to Social Security over the objections of a large majority of the American people.
Contributors- Economic and Financial, Must Read, William Black
Stop “the Great Betrayal:” Kabuki Update – New Economic Perspectives
by Joe Firestone • • 0 Comments
It now looks like the big media and leaders in both parties are no longer focusing on the Government Shutdown crisis, but are now moving on to the notion that the shutdown is melding with the upcoming probable breaching of the debt limit to create a combined mother of all fiscal crises.
Contributors- Economic and Financial, Must Read, William Black
Declaring the Grand Bargain Dead Is Premature – New Economic Perspectives
by Joe Firestone • • 0 Comments
This is a syndicated repost courtesy of New Economic Perspectives. To view original, click here. Reposted with permission. Stories in The Washington Post and the New York Times have some in the blogosphere proclaiming that it’s time to celebrate the death of the Grand Bargain, and others at least raising a question about its death.…
Contributors- Economic and Financial, Must Read
Jack Lew: Avoiding Default Is Your Responsibility Too – New Economic Perspectives
by Joe Firestone • • 0 Comments
This is a syndicated repost courtesy of New Economic Perspectives. To view original, click here. Reposted with permission. With the end of the Summer break, now comes the return of the debt limit dance. From Treasury Secretary Jacob Lew’s letter to John Boehner: “Congress should act as soon as possible to protect America’s good credit…
Contributors- Economic and Financial, Must Read
What Social Security/Medicare Solvency Problem? – Joe Firestone- New Economic Perspectives
by Joe Firestone • • 0 Comments
For years now, economists using the ideas of Modern Money Theory (MMT) have been telling us that the so-called long-term “funding” problems of Social Security (SS) and Medicare emphasized incessantly by supporters of austerity are faux problems.
Contributors- Economic and Financial, Must Read
Sorry Folks, Austerity’s Not Dead Yet! New Economic Perspectives
by Joe Firestone • • 0 Comments
It makes a good headline; but it’s dangerous to say “austerity is dead,” just because new budget projections indicate that the deficit has already been cut by $200 Billion more than in previous projections, and because the Reinhart-Rogoff study has been debunked successfully, and, hopefully, irretrievably. Austerity will only be dead when legislators, Presidents, Prime Ministers, Central Bankers, and international lending organizations stop trying to implement it, whether or not they stop because deficits have already been cut.
