Social Security Is Not a Ponzi Scheme
This post appeared earlier under the title “Ponzi Schemes and the Ponzi Schemers.” I’m republishing it because our just confirmed Office of Management and Budget (OMB) Director is one of […]
Modern Money Theory
On How The Federal Government Spends and Other Matters
My first interview at Real Progressives on Monetary realities, including how the Federal Government spends, the absence of legitimate solvency concerns, austerity scares and other related questions.
Dimensions of Public Purpose
Recently, I was interviewed by Steve Grumbine at Real Progressives about the idea of Public Purpose. Public Purpose is a term which first came to prominence during the 1970s when […]
Forget the $1 Trillion Infrastructure Plan! Forget the $1 Trillion Coin!
Donald Trump has promised a $1 Trillion Infrastructure plan to create jobs, but has been vague about how that would be implemented. In an interesting post, Ellen Brown makes the […]
President-elect Donald Trump Doesn’t Have to Compromise with Paul Ryan on Entitlements
During the presidential campaign, Donald Trump promised to save Social Security and to protect Medicare. But since he made those commitments he seems to have gotten much closer to Paul […]
Can Medicare and Social Security Pay Out Full Benefits If Congress Appropriates the Funds Needed for Full Payouts even if the “Trust Funds” Have Reached Zero?
Keeping in mind that the Federal Government cannot involuntarily “run out of money” because of its constitutional money-creating capacity, then the answer to the question in the title is “of […]
How About Picking One Fight at a Time?
Steven Hill, a Senior Fellow at the New American Foundation, has some advice for Hillary Clinton. He wants her to run on “. . . a bold issue that fires […]
Time to Borrow? No, Time to Just Spend!
Contemplating the likelihood that Hillary Clinton will win the presidential election, and may well carry in with her a Democratic House and Senate Paul Krugman considers what he ought to […]
Fixing the Debt without Breaking America: Austerity, the Trillion Dollar Coin, and Ending Debt Ceiling, Sequester, and Budgetary Crises
This book is about a counter-narrative to austerity politics. It exposes its fallacies, and, I hope, its closed-mindedness and futility. It also offers a way out of austerity politics. That […]
For US Democracy: There Is Only One Choice
We need big, big changes in the United States. Many of them will require the Federal Government to spend unprecedented amounts, including deficit spending to enable us to solve problems […]