Tag Archives: HVPCS

The Economic Agenda for America: A Commentary

Senator Bernie Sanders just released his “Economic Agenda for America.” While that agenda is certainly more progressive than the talk we hear from Democrats, and certainly is progressive in its expression of generalities. It is not nearly sufficiently progressive in its specifics.

Here’s a commentary on it.

1. We need a major investment to rebuild our crumbling infrastructure: roads, bridges, water systems, waste water plants, airports, railroads and schools. . . . A $1 trillion investment in infrastructure could create 13 million decent paying jobs and make this country more efficient and productive. . .

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The Way Out of Shutdown Shenanigans

Today, I received an e-mail from the Friends of (the very popular with progressives) Senator Bernie Sanders. In it the Senator says:

I’m joining with the members of Progressives United to send a clear message to President Obama that we will stand with him when he vetoes Republican legislation that attacks the well-being of the struggling middle class.

Join me and members of Progressives United to urge the president to VETO any Republican legislation that attacks working families.

NO to cuts in Social Security. NO to cuts in Medicaid. NO to converting Medicare into a voucher program. NO to new trade legislation that sends our jobs overseas and hammers our middle-class workers. NO to cuts to nutrition programs, education or environmental protection.

YES to raising the minimum wage. YES to a massive jobs program rebuilding our crumbling infrastructure. YES to transforming our energy system away from fossil fuels. YES to pay equity for women workers. YES to overturning Citizens United.

We already know what “compromise” will mean from a Republican Congress: their way or the highway. In order to win in the future, President Obama must stand strong for the American middle class, and we must support him.

Tell President Obama: Standing firm is the only option, and that means committing to VETO legislation that attacks working families, and fighting for legislation that defends their needs.

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An Open Letter to Don Beyer, VA – 8th Candidate for Congress

By Joe Firestone

My Congressman, Jim Moran, is retiring this year and his seat is up for grabs in the VA – 8th Congressional District. This is a solidly blue district made even more solid by the Republican gerrymander following their win in the disastrous elections (for poor people, for women, for the middle class, and for minorities) of 2010 in Virginia. So, the question is, which of the eleven candidates who are running in the primary will win it, and become the heavy favorite to win the Congressional election in November.

The heavy primary favorite is Don Beyer, a noted auto dealer in Northern Virginia, who has served as Lieutenant Governor twice, and also as Ambassador to Switzerland. My impression of Ambassador Beyer has been favorable. I have a friend who bought cars from him over many years and who had his Volvos serviced at his dealership all the while, and he had nothing but good things to say about the integrity of the service he received.

That said, however, and personal characteristics aside, I’d like Beyer to clarify his positions on the issues. So, I’m addressing this open letter to him.

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Peterson Thinks We Need Austerity While He Lives It Up!

By Joe Firestone

The Peterson Foundation reacted to the President’s budget document with a report repeating its usual whining about the debt problem, and the need to cut entitlements. Here are quotations from the report and my explanations of why they are ridiculous deficit/debt terrorist nonsense.

While today’s deficits are much lower than those during the financial crisis and recession, over the next ten years debt will remain at historically high levels under the policies outlined in the President’s budget. Over the long term, our debt is on a rising and unsustainable path that harms our economy and threatens our future standard of living.

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What Now?

By Joe Firestone

Today, John Boehner bowed to the inevitable logic of the impending political season and placed a “clean” debt ceiling increase bill on the floor of the House. At this writing, the bill passed with 28 Republican and 193 Democratic votes. Now it moves on to the Senate, where it is expected to pass in time to allow the Treasury to keep issuing debt instruments.

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The Five Worst Reasons Why the National Debt Should Matter To You: Part Four, Three REAL Reasons

By Joe Firestone

This is the concluding post in a four part series on the “Top” reasons why the national debt should matter. In Part One, I considered “Fix the Debt’s” claim that high levels of debt cause high unemployment and argued that this is a false claim. In Part Two, I followed with a review of the historical record from 1930 to the present and showed that it refutes this claim throughout this period, and that there is not even one Administration where the evidence doesn’t contradict “Fix the Debt’s” theory. In Part Three I showed that the other four reasons advanced by “Fix the Debt” also had very little going for them. In this part, I’ll give reasons why the national debt does matter, and why we should fix it without breaking America, or causing people to suffer.

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The Five Worst Reasons Why the National Debt Should Matter To You: Part Three, The Other Four Worst Reasons

By Joe Firestone

In Part One of this series, I considered “Fix the Debt’s” claim that high levels of debt cause high unemployment and gave a few reasons why this is a false claim. In Part Two, I followed with a review of the historical record from 1930 to the present and showed that it refutes this claim throughout this period, and that there is not even one Administration where the evidence doesn’t contradict “Fix the Debts” theory. In this part I’ll continue my examination of the other four “top reasons” why “Fix the Debt” insists that the National Debt should matter to you.

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The Five Worst Reasons Why the National Debt Should Matter To You: Part One, High Debt Levels and Jobs

By Joe Firestone

I came across a post from the “Fix the Debt” campaign last month called “The Top Five Worst Reasons Why the National Debt Should Matter to You.” It’s a post full of debt/deficit lies that cry out for correction. That’s what I’ll provide in this series. Continue reading

What Would You Have the President Do? Part III, Doing Some Economic and Social Justice

The first two Parts in this series began answering the question “what would u have him do?” It arose in the context of a Post at Naked Capitalism by Michael Hudson with some additions by Yves Smith. A commenter, objecting to the criticism of the President’s Knox College speech, issued the challenge in connection with the President’s promised effort to restore prosperity to the middle class and the poor. Continue reading

What Would You Have the President Do? Part II, Getting to Full Employment

Responding to a Post at Naked Capitalism by Michael Hudson with some additions by Yves Smith, a commenter, objecting to the criticism of the President’s Knox College speech, issued the challenge ”What would u have him do?” in connection with his promised effort to restore prosperity to the middle class and the poor. In this series I’m giving my answer to that question. In Part I, “Necessary First Moves,” I offered and described two of these. Ending the filibuster, and using High Value Platinum Coin Seigniorage (HVPCS) to fill the Treasury General Account (TGA) with $60 Trillion in reserves. Continue reading