“How will we pay for it?” That is their question. This past month, I recommended The Deficit Myth, Modern Monetary Theory and the Birth of the People’s Economy, by Stephanie Kelton (2020), in my “Great Reads for Our Times – with a Dose of Hope” blog. I received some push back, and I felt compelled […]
The pandemic-induced disruption of the global economy of neoliberal capitalism has strengthened the appeal of Modern Monetary Theory (MMT). The fundamental idea of this policy prescription is that state spending, a national budget deficit, can be used to combat recession. Raising overall demand in a given country will facilitate a recovery insofar as there is […]
All those Republicans backing Biden... they should close out the campaign with a song and dance routine about how much they love Austerity. After all, the whole political class can unite around that-- both parties-- minus a handful of outliers like the Squad and some of the Congressional Progressive Caucus. Biden himself is an Austerity Democrat-- always has been, always will be.
Mayo Pete didn't come out of the closet until he was 33-- in 2015, when he was in electoral politics and there was no doubt he would be outed if he didn't do it himself. Last year, when he wasn't a top candidate, the New York Times' Jeremy Peters wrote the LGBTQ story on Pete.
The most recent candidate endorsed by Blue America, Nabilah Islam, sometimes stands out from the crowd because of her name, which for old people, doesn't sound like a name from the Georgia suburbs. Others (men) remark not on her name but on her physical appearance. What people don't realize-- at least not until they get to know her is that Nabilah, despite how she looks and what he name is, is both an All-American girl and a policy wonk.
Yesterday, as soon as Bernie announced his wealth tax proposal-- something he's been working on long before he ran for president in 2016-- Thomas Kaplan was working to undermine its authenticity for NY Times readers by insinuating he was just trying to one-up Elizabeth Warren.
Economics isn't easy for many voters to understand. Stephanie Kelton is one of the top economists in the world-- as well as Bernie's chief economic advisor-- and teaches economics at Stony Brook. She's been helping Blue America congressional candidates understand some of the trickier bits of economics behind policy solutions like Medicare-For-All, the Green New Deal, free public college, raising the minimum wage to a living wage, cancelling student loan debt...In the video above she was interviewed by Bloomberg News yesterday.
The "Freedom Caucus" is screaming its collective head off about growing deficits again, threatening to Boehnerize GOP Minority Leader Kevin McCarthy and threatening to kill the budget deal agreed to by Trump, Pelosi, McConnell, Schumer and McCarthy.
The work that Bernie’s economic advisor, Stephanie Kelton, chair of the Stony Brooks economic department, did for Bernie on student debt cancellation last year— along with 3 colleagues— The Macroeconomic Effects of Student Debt Cancellation is probably too much to expect political journalists to read and grasp… so it’s a lot easier to go along with a narrative about Bernie competing with Elizabeth
