Koronabirusa: zenbait eguneraketa osasungintzaz eta finantzaketaz (5)

Sarrera gisa

(https://twitter.com/Mauerback/status/1241349778790920193)

Marshall Auerback@Mauerback

The last holdout on austerity is gone. Germany introduces a budget with a deficit equivalent to 10% of GDP:

Irudia

2020 mar. 21

Gogoratu Warren Mosler-ek eta DTM-koek aspaldian aupatutako %10 berbera dela, %3tik nahiko aldendua!

Osasungintzaz

(1) El document que retrata Sánchez: 70 científics reclamen el confinament total

(https://www.elnacional.cat/ca/salut/coronavirus-document-cientifics-confinament-espanya_483198_102.html)

Finantzaketaz

a) Stephanie Kelton

(https://twitter.com/StephanieKelton/status/1240335674135511044)

Stephanie Kelton@StephanieKelton

It took a virus to kill the deficit myth.

Txioa aipatu

CNN@CNN

mar. 18

Lawmakers and the White House are putting aside any concerns about blowing up the deficit as they consider a trillion1-dollar stimulus package to boost the economy in response to coronavirus. https://cnn.it/2TWY1Qa

2020 mar. 18

oooooo

Winifred@WaywardWinifred

mar. 18

@StephanieKelton

erabiltzaileari erantzuten

You mean a global pandemic that is killing people at alarming rates?

oooooo

Mar. 18

Yes, that. It has (at least temporarily) laid bare so many flawed and phony arguments, including those pushed by people who are now urging government to spend freely and ignore deficits. Those folks are right now, but they should have known better then.

b) Pavlina Tcherneva

(https://twitter.com/politybooks/status/1241431382867554305)

Polity@politybooks

We are at war with #COVID-19, and in wartime, civilian production grinds to a halt and the only work that is needed is for the war effort itself.”

@ptchernevain @ProSyn

What Would Roosevelt Do? | by Pavlina R. Tcherneva

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…

project-syndicate.org

2020 mar. 21

c) Rohan Grey (1)

(https://twitter.com/rohangrey/status/1240999647876964352)

Rohan Grey@rohangrey

My new op-ed, on what the Coronavirus teaches us about how we can and must respond to all social crises.

We Can Afford to Beat This Crisis

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.

thenation.com

2020 mar. 20

oooooo

Rohan Grey@rohangrey

mar. 20

@rohangrey

erabiltzaileari erantzuten

Shoutouts to (linked in the piece):

@payforgnd

@StephanieKelton

@AOC

@IlhanMN

@BernieSanders

@RaulACarrillo

@DavidBeckworth

@KateAronoff

@sunrisemvmt

@VarshPrakash

@thepublicmoney

@AlexSJacquez

@DavidpStein

And the Job Guarantee Now! campaign: https://jobguaranteenow.org

oooooo

Rohan Grey@rohangrey

mar. 20

@rohangrey

erabiltzaileari erantzuten

Really important companion pieces by

@ptcherneva

: https://project-syndicate.org/commentary/coronavirus-cash-support-job-guarantee-by-pavlina-r-tcherneva-2020-03

&

@_TimBarker

: https://dissentmagazine.org/online_articles/coronavirus-defense-production-act-industrial-policy

h/t

@DavidpStein

It Doesn’t Have to Be a War | Dissent Magazine

The Trump administration appears ready to invoke the Defense Production Act to speed manufacture of essential goods like face masks. What if we didn’t have to resort to the analog of war?

dissentmagazine.org

oooooo

Rohan Grey@rohangrey

Mar. 20

And another one by @KateAronoff:

The Democrats Screwed Up

Nancy Pelosi and other party leaders have been outflanked by opponents embracing big spending ideas to address the coronavirus recession.

(c) Rohan Grey (2)

(https://twitter.com/rohangrey/status/1241394108100423683)

Rohan Grey@rohangrey

Incredibly honored & humbled to have worked with

@RepRashida‘s office to develop this proposal to #MintTheCoin and use it to provide universal (and yes, we mean universal) emergency relief pre-paid US debit cards to every person in America.

Txioa aipatu

Congresswoman Rashida Tlaib@RepRashida

This includes the Treasury using its legal authority to create a new mint program to fund:

Direct payments via preloaded $2,000 cash cards to everyone.

Recharging with $1,000/month until a year after the economy recovers. Read all about it here: https://tlaib.house.gov/sites/tlaib.house.gov/files/Automatic%20Boost%20to%20Communities%20Act%20.pdf

Erakutsi haria

oooooo

Rohan Grey@rohangrey

This proposal provides $2000 per person, including dependents and non-citizens, and those in territories and protectorates, with an additional $1000 each month after that. It is funded and administered by the Treasury, with no need for additional debt issuance or Fed overdraft.

oooooo

Rohan Grey@rohangrey

Individuals with addresses on file will have cards mailed to them, and those who cannot or do not receive cards will have opportunity to pick up a card from special distribution stations at post offices, banks/credit unions, public schools, and other government buildings.

oooooo

Rohan Grey@rohangrey

In addition, an emergency corps will conduct a targeted outreach program to at-risk populations (homeless, elderly, etc) to ensure they receive cards, and at the same time perform a wellness check to assess whether they need additional assistance.

oooooo

Rohan Grey@rohangrey

Relative to other proposals out there, this proposal offers both a novel financing mechanism (#MintTheCoin) and a novel distribution mechanism (pre-paid cards), and is truly universal. It’s been a thrill to work on this proposal, but it is important to note that while emergency

oooooo

Rohan Grey@rohangrey

cash relief is critical, it is not sufficient on its own – we need far-reaching debt and expense relief, additional income and benefit protection and expansion, including direct payroll support, repurposing and public ownership of key industry, and direct worker support through

oooooo

Rohan Grey@rohangrey

a job guarantee that supports emergency and solidarity work, remote work, and begins planning for what the post-crisis recovery looks like.

@StephanieKelton

@ptcherneva

@stf18

@FadhelKaboub

@andresintheory

@RaulACarrillo

@videotroph

@MorganRicks1

@KatharinaPistor

@rch371

oooooo

Rohan Grey@rohangrey

Going to take this moment to share some related links:

1) My law review article, forthcoming in the Kentucky Law Review, on the legality of minting the coin in the context of the debt ceiling crisis:

https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3536440

NOTE: Rep. Tlaib’s proposal involves new legislation

oooooo

Rohan Grey@rohangrey

so avoids many of the concerns regarding existing authority that prompted objections to the original #MintTheCoin proposal.

2) My @thenation op-ed on the Coronavirus:

https://twitter.com/rohangrey/status/1240999647876964352

3) Some other really important pieces by good friends and comrades on what to do next:

Txioa aipatu

Rohan Grey@rohangrey

mar. 20

My new op-ed, on what the Coronavirus teaches us about how we can and must respond to all social crises.

https://thenation.com/article/economy/corona-biden-fed/

Erakutsi haria

oooooo

Rohan Grey@rohangrey

@StephanieKelton

: https://nytimes.com/2020/03/21/opinion/-coronavirus-stimulus-trillion.html?0p19G=0038

@ptcherneva

: https://project-syndicate.org/commentary/coronavirus-cash-support-job-guarantee-by-pavlina-r-tcherneva-2020-03

@KateAronoff:

Green Jobs Are the Answer to the Coronavirus Recession

The climate case for making the government the employer of last resort

newrepublic.com

oooooo

Rohan Grey@rohangrey

And of course, the biggest thank you of all to @mucha_carlos, who first came up with the idea behind this proposal, and in whose footsteps I follow as a humble student.


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