Sarrera gisa
(https://twitter.com/Mauerback/status/1241349778790920193)
The last holdout on austerity is gone. Germany introduces a budget with a deficit equivalent to 10% of GDP:
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
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
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erabiltzaileari erantzuten
You mean a global pandemic that is killing people at alarming rates?
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Stephanie Kelton@StephanieKelton
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)
“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.”
What Would Roosevelt Do? | by Pavlina R. Tcherneva
2020 mar. 21
c) Rohan Grey (1)
(https://twitter.com/rohangrey/status/1240999647876964352)
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.
2020 mar. 20
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erabiltzaileari erantzuten
Shoutouts to (linked in the piece):
And the Job Guarantee Now! campaign: https://jobguaranteenow.org
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erabiltzaileari erantzuten
Really important companion pieces by
&
: https://dissentmagazine.org/online_articles/coronavirus-defense-production-act-industrial-policy
h/t
It Doesn’t Have to Be a War | Dissent Magazine
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Rohan Grey@rohangrey
And another one by @KateAronoff:
(c) Rohan Grey (2)
(https://twitter.com/rohangrey/status/1241394108100423683)
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
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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.
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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.
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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.
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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
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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
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a job guarantee that supports emergency and solidarity work, remote work, and begins planning for what the post-crisis recovery looks like.
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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
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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
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: https://nytimes.com/2020/03/21/opinion/-coronavirus-stimulus-trillion.html?0p19G=0038
Green Jobs Are the Answer to the Coronavirus Recession
The climate case for making the government the employer of last resort
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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.
1 Amerikar trilioi bat = europar bilioi bat
joseba says:
@AOC:
https://twitter.com/mtracey/status/1524388465319763969
https://twitter.com/mtracey/status/1524402650246221825