Daily Archives: October 11, 2013

Rationalization, Obligation, Part I: No Magic Bullets?

Posted on October 11, 2013 by Joe Firestone | 24 comments

The media and politicians in both parties are still largely echoing the Administration’s framing of the fiscal situation and absolving the President of his share of the blame for the debt limit crisis. They’re reinforcing his message They’re also preparing the way for a compromise, that will, almost certainly, result in hurtful cuts to Government spending including renewed consideration of “the Great Betrayal,” also known as “the Grand Bargain,” including passage of the chained CPI cuts to Social Security over the objections of a large majority of the American people.

Continue reading →

24 Comments

Posted in Joe Firestone

Tagged #PCS, 14th Amendment, austerity, bill black, debt ceiling, debt limit, debt limit crisis options, debt-subject-to-the-limit, default, deficit spending, grand bargain, great betrayal, High Value Platinum Coin Seigniorage, MMT, modern money theory, President Obama, public debt

Yellen Needs to Tell the Politicians to Stop Failing

Posted on October 11, 2013 by Dan Kervick | 10 comments

By Dan Kervick

Evan Soltas is hoping that President Obama’s appointment of Janet Yellen signifies a new administration commitment to jobs and economic growth. Unfortunately, Soltas seems to be one of those folks who is convinced that our failures over the past five years have much to do with a monetary policy that has been insufficiently “accommodative”, and he strongly suggests that the national plague of mass joblessness and stagnation could be alleviated if the Fed would only do more aggressive quantitative easing without political pressure to taper prematurely.

Continue reading →