In the big budget fight going on right now in Congress, the Tea Party conservatives rightly point out that $61 Billion in spending cuts is just a drop in the bucket compared to the $1.6 Trillion predicted deficit, and they react with a great deal of moral fervor to the suggestion that they ought to compromise on $33 Billion in cuts in order to avoid shutting down the Government. more »
dailykos.com — In a reply to Paul Krugman, Scott Fullwiler illuminates a lot of the deep thinking and knowledge developed by those following the Modern Monetary Theory approach to economics. If you read this, you can see just how much work PK has to do to really understand it, and how far from the truth his characterization of it is. Heavy, but worth the time.
moslereconomics.com — Critical commentary by Warren Mosler on the recent statement by 11 former Chairpersons of the Council of Economic Advisers on the need for austerity policies such as those recommended in the Bowles - Simpson Report.
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 »
There’s a lot of ways to be petty and cheap and stupid, and a lot of ways to stick it to a program you don’t like, and by extension, the clients of that program…and this week the House Republicans have embarked on an effort to combine the two into one petty, cheap, and stupid way to stick it to the clients of Social Security and the workers who administer the program. more »
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