moslereconomics.com — This is a commentary on Greg Mankiw's fictional 2026 Presidential Address on catastrophic austerity. Warren Mosler gives us a paragraph-by-paragraph critique from the Modern Monetary Theory (MMT) point of view.
Isn't it true that in actuality, the US doesn't, in fact "borrow'? It spends or trades? And if that is the case, doesn't that just blow the deficit hawks out of the water?
The Modern Monetary Theory (MMT) approach to economics must be starting to make some waves, because today, Paul Krugman, followed his earlier attack on it and his debate with Jamie Galbraith and others last summer, with more »
Over the last couple of weeks there's been an exchange between Charles Krauthammer writing in one of the austerity mongers' favorite newspapers and Jack Lew, the Director of the Office of Management and Budget (OMB), writing at the OMB blog. This exchange illustrates a kerfuffle, that ignores the real issue surrounding entitlements and fiscal responsibility. more »
Arianna Huffington is calling attention to “the great budget battle of 2011,” between the President and the Republicans. She correctly points out that whichever of the two sides win, we, the people, lose. more »
Over the past year, I've written numerous posts about fiscal sustainability, fiscal responsibility, and the various fairy tales and myths underlying what almost all of our policy makers have to say Government finance. more »
Well, the proverbial s__t is now hitting the fan in our State Governments, and we're looking at struggles in State after State between newly elected Republican Governors scapegoating civil servants, while they insist that taxes can't be raised on the wealthy and large corporations during a recession. more »
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