16 May 2019 – I promised you that in our next show I would get into the myths about Federal debt. This is that show. In addition, Will talks about why we should be going into space – for real. Some of the ideas sound crazy but I think there is enormous value in doing the work that takes us down those paths, regardless. There is so much possibility, why would we not get serious? At the top of the show we touch on the new agreement, between the UK and the Republic of Ireland, to establish a common travel area. Granted, this is a weak tea solution but it’s not nothing.
In case you want a quick list of the eight myths about Federal debt which I cover, here goes:
Carrying debt is bad for the Federal government
And the corollary, Federal surplus is good (this article provides perspective)
The Federal government uses our taxes to “pay for” government spending
There is a fiscal cliff
Passing Federal debt on to future generations is bad
The Federal government issues Treasury bonds (debt) to fund spending
Federal debt “crowds out” investors (Stephanie Kelton crushes Paul Krugman on this subject here.)
2 April 2018 – Since I, admittedly, went on and on about debt politics in this episode, I will keep my description very short. Will updates you on the latest on Brexit crazy. May has completely lost control of Parliament and Macron will not continue to be impatient with British incompetence. I talk little bit about the mechanism of federal debt and a lot about the politics of federal debt. The concept of federal debt has been weaponized for a reason.
I said on the show that next week I would talk about some of the myths that surround federal debt and I will do that but the next show may end-up being an interview with Charles Gaba, @brainwarp, because Trump is seriously planning to destroy healthcare and even the GOP is furious. Cheers! – Arliss
16 April 2018 – There comes a time in every federal budget cycle when I have to find a way to talk about debt and, specifically, the Dems dangerous debt dance. This time I decided to switch things up and invited Frances Langum (Bluegal), from my favorite podcast, The Professional Left, to interview me and to provide push-back. Fran is someone for whom I have enormous respect but, like 99% of the Dems out there, she comes at economics from a purely Keynesian perspective…and that’s what I wanted. You are going to love the conversation and, I hope you find it an interesting way to get the MMT message out.
At the top of the show I refresh the information about the Rapid Response events taking place when (if) Trump does any of the following: fires Robert Mueller, fires Rob Rosenstein, pardons any key witnesses. Please go to Nobody Is Above the Law to register for the event closest to you. Our democracy cannot be allowed to go down without a fight. Also, on the day you can tune in to Netroots Radio for a live stream as events unfold.
During the rest of the show Will covers an item you may have missed on your news feed, the angry Scottish badger, as well as some of the larger issues surrounding the US/UK/French strike on Syria. I get into Mick Mulvaney’s appearance on Capitol Hill to give his bi-annual report from the CFPB. Both Joan McCarter, of Daily Kos, and David Dayen, for The Nation, covered this particularly well.
Be vigilant folks, things are getting real. – Arliss