Our country’s myth about federal debt, explained. The idea that our country’s national debt creates a burden on future generations is a complete fabrication. Source: Opinion | M.M.T. Shows the Trillion-Dollar U.S. Deficits Are OK – The New York Times Continue reading Opinion | M.M.T. Shows the Trillion-Dollar U.S. Deficits Are OK – The New York Times
Don’t think of that number as “big” or “bold.” Just think of it as the appropriate dosage for a once-in-a-century economic affliction. We’ve done it before, we can do it again. Source: … Continue reading Preventing a Great Depression Will Cost $10 Trillion – The Atlantic
We’re finally, finally, doing an episode on MMT. Just in time for the deficit to triple. Source: Maybe Modern Monetary Theory is an answer to the COVID-19 economic crisis – Marketplace Continue reading Maybe Modern Monetary Theory is an answer to the COVID-19 economic crisis – Marketplace
Critics worry a new Environmental Protection Agency (EPA) policy will leave the agency unaware of how much pollution is leaking into air, water and soil as companies are given the green light to There is a saying in politics: “Never let a good crisis go to waste.” Source: Critics blast EPA move … Continue reading Critics blast EPA move as license to pollute during pandemic
When all of this is behind us, to the extent that it ever can be, let’s not forget what we’ve learned: Congress knows how to spend money when it wants to. Will be helpful when it comes time to address climate change. Source: $2 Trillion Coronavirus Stimulus Nullifies “How Will You Pay … Continue reading $2 Trillion Coronavirus Stimulus Nullifies “How Will You Pay for It?” Question
People will act on an emergency — when they understand that it threatens them. And money is no object. Source: Politicians blew off Gen Z’s climate goals. The coronavirus shows we can act fast. – The Washington Post Continue reading Politicians blew off Gen Z’s climate goals. The coronavirus shows we can act fast. – The Washington Post
The issue of “balancing the books” with taxes or via the issuance of debt is not only an afterthought — it is not even necessary. Our government holds a monopoly to “issue” the currency, it does not merely “use” it like the rest of us. An epochal shift in economic thinking that … Continue reading Coronavirus pandemic: politicians, CEOs believe in MMT, Modern Monetary Theory
Congress has all the firepower it needs. It just needs to send spending instructions to the Federal Reserve, as it always does. We can afford to keep the country whole, this article explains why. Source: Opinion | Stephanie Kelton: Just Use ‘the Computer’ to Give People More Money – The New York … Continue reading Stephanie Kelton: Just Use ‘the Computer’ to Give People More Money
Even deficit hawks like Joe Biden know that when faced with the genuine prospect of annihilation, the only adequate response is to do whatever it takes to prevent it. We’ve done it before, we can do it again. And money is no object at this point. Source: We Can Afford to Beat … Continue reading We Can Afford to Beat This Crisis | The Nation
The US government should pull out all the stops in mitigating the economic fallout from COVID-19, not just by disbursing cash to all households, but also by implementing a federal job guarantee and many other long-overdue policies. After all, for a self-financing government, money is no object. These are all things that … Continue reading What Would Roosevelt Do? by Pavlina R. Tcherneva
A region of Italy that took earlier and more aggressive measures to fight the coronavirus is now seeing fewer cases. One region, Veneto, tested everybody, even those with no symptoms, and the other region, Lombardy, only tested those with symptoms. The result is that Veneto is seeing a decrease in the spread … Continue reading Italian regions’ responses to coronavirus show testing, distancing work – Business Insider
The Trump administration has proposed $50 billion of emergency aid for airlines ravaged by widespread cancellations amid the coronavirus pandemic. But critics are deriding it as a bailout to an industry that made bad financial decisions. Resistance to the plan emerged among Democrats and even some Republicans. They’re concerned that extra money … Continue reading Airlines are begging for a bailout, but they’ve used 96% of their cash on stock buybacks over the past 10 years.
The U.S. needs protection for households — that families are not foreclosed on or evicted, that they have income to weather the storm, that credit scores aren’t ruined, that kids are not denied school lunches. It’s not about lowering interest rates, it’s about making sure Americans who are living paycheck to paycheck … Continue reading Don’t look to the Fed for help on the coronavirus — Congress has the money and power – MarketWatch
“We just could not generate much interest,” a researcher said of the difficulty in getting funding to test the vaccine in humans. This is why you don’t cut budgets on these things. Source: Scientists were close to a coronavirus vaccine years ago. Then the money dried up. Continue reading Scientists were close to a coronavirus vaccine years ago. Then the money dried up.
The 14th Amendment says states that infringe the vote must lose representation in Congress. It’s time to actually make this happen. Interesting! Source: Politico – The Lost 110 Words of Our Constitution Continue reading The Lost 110 Words of Our Constitution