Tag Archives: fiscal cliff

Stop Using Obama for America Against the People!

Posted on November 23, 2012 by Devin Smith | 12 comments

Obama for America, the campaign apparatus with the very large e-mailing list and great segmentation techniques that exploited Romney’s weaknesses to help the President to eke out (yes, I know the electoral vote involved no “eking out,” but the popular vote was something else again) his re-election victory, is now trying to mobilize people who voted for the President to work against their own interests by supporting his deficit/debt cutting activities. So, I couldn’t resist the following commentary on their mobilization e-mail. Continue reading →

12 Comments

Posted in Joe Firestone

Tagged debt-subject-to-the-limit, debt-to-GDP ratio, deficit, fiscal cliff, Fiscal Responsibility, Fiscal Sustainability, MMT, Modern Monetary Theory, national debt, Obama for America, OFA

Trigger Mechanisms To Avoid the Fiscal Cliff? You’re Kidding, Right?

Posted on November 18, 2012 by Devin Smith | 51 comments

By Joe Firestone

Robert Reich has been writing a series on “the Grand Bargain” and the “fiscal cliff.” In this post, I’ll do a commentary on his “The President’s Opening Bid on a Grand Bargain (II): Put a Trigger Mechanism in the Legislation”, because I think it’s a good example of self-defeating progressivism or “loser liberalism”. Take your choice of epithet.

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51 Comments

Posted in Joe Firestone

Tagged debt-subject-to-the-limit, debt-to-GDP ratio, deficit, fiscal cliff, Fiscal Responsibility, Fiscal Sustainability, MMT, Modern Monetary Theory, national debt, Robert Reich, triggers

Marshall Auerback appears on BNN discussing the Grand Bargain and other issues

Posted on November 16, 2012 by Devin Smith | 1 comment

Marshall Auerback’s appearance on BNN’s Business Day, November 15, 2012. Topics of discussion include impacts of a Grand Bargain. Click the image or here to watch on BNN’s site.

1 Comment

Posted in Marshall Auerback

Tagged fiscal cliff, grand bargain

Stephanie Kelton’s C-SPAN presentation on the Fiscal Cliff

Posted on November 14, 2012 by Devin Smith | 43 comments

A C-SPAN video clip of Stephanie Kelton’s presentation on the Fiscal Cliff with New America Foundation / Economic Growth Program / Economists for Peace and Security. Click here or the image to view the clip at C-SPAN

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43 Comments

Posted in Stephanie Kelton

Tagged fiscal cliff

The “Fiscal Cliff” Validates MMT

Posted on November 11, 2012 by Devin Smith | 25 comments

By Thornton “Tip” Parker

The fiscal cliff of increased taxes and reduced federal spending resulted from the hasty wedding of Congress and the Administration a few months back when the debt ceiling became a shotgun. Now, all parties want something different.

Continue reading →

25 Comments

Posted in Guest Blogger

Tagged CBO, fiscal cliff

Jobs Now: Make Obama’s Priority Reality and Expose the Lie of Lazy Laborers

Posted on November 11, 2012 by Devin Smith | 6 comments

By William K. Black

President Obama gave a major speech today on his legislative agenda. He said that the overriding national priority had to be jobs. We agree.

David Brooks’ November 8, 2012 column called on the Republican Party to become “The Party of Work.” He put his primary message in his final paragraph for emphasis.

Continue reading →

6 Comments

Posted in William K. Black

Tagged austerity, fiscal cliff, grand bargain, great betrayal, jobs

These Folks are Soooo Clever . . .

Posted on September 26, 2012 by Devin Smith | 87 comments

Last week, Reps. Michael Honda, Keith Ellison, Raul Grijalva, Jan Schakowsky, John Conyers, Barbara Lee and Lynn Woolsey stalwarts of the Congressional Progressive Caucus (CPC) begged for mercy from “the Gang of Eight” in a letter.

Here’s what they said and my commentary on their “loser liberalism.” Continue reading →

87 Comments

Posted in Joe Firestone

Tagged debt issuance, deficit reduction, deficits, fiscal cliff, MMT, modern money theory, national debt, PPCS, Proof Platinum Coin Seigniorage, Ratings Agencies, Trillion Dollar Coin

Alan Grayson’s Right; But He Misses the Larger Point

Posted on September 14, 2012 by Devin Smith | 9 comments

By Joe Firestone

Alan Grayson’s e-mail on Moody’s warning that it might reduce the US’s AAA rating, suggested that Moody’s was either threatening a downgrade because it wants to get the Bush tax cuts for the rich extended, or, alternatively, that “Moody’s is living in what Aristophanes called “Cloud Cuckoo Land.”” He says this because Moody’s is upset about the possibility that the US may go over the so-called “fiscal cliff,” even though if it did, it would theoretically result in $560 Billion of deficit reduction annually, without further legislative changes, and it makes no sense on the surface for a ratings agency to think that the risk of US bond default is greater when the annual deficit is being reduced by $560 B per year, than by some lesser amount, which is likely to happen if Congress doesn’t take us over that “cliff.”

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