Did Hamas accept a cease-fire that they wrote with the Americans and that the Israelis did not see? Did the U.S. delay arms to Israel because Israel declined it?
If the American State Department thinks that Israel is like Puerto Rico, Israel probably should know.
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Nathan Wade calls relationship with Fani Willis 'American as apple pie'
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MMT and its Discontents
"The central idea of modern monetary theory is that governments with a fiat currency system under their control can and should print (or create with a few keystrokes in today’s digital age) as much money as they need to spend because they cannot go broke or be insolvent unless a political decision to do so is taken. While supporters of modern monetary theory acknowledge that inflation is theoretically a possible outcome from such spending, they say it is highly unlikely and can be fought with policy decisions in the future if required."--Investopedia
The Biden White House has proposed a $6 trillion budget, which will keep deficits above a trillion for the next 10 years.
10 years.
That budget will not be fully paid for with tax increases or spending cuts. It will increase the deficit, according to Stephanie Kelton, and that constitutes an implicit if not explicit adoption of the principles of modern monetary theory (MMT)
Kelton is a professor at Stony Brook University and was an economic advisor to Bernie Sanders for his two presidential campaigns.
She is the author of The Deficit Myth and is an outspoken advocate of MMT
“[T]he idea that taxes pay for what the government spends is pure fantasy,” she writes in The Deficit Myth. “[I]t is the currency issuer — the federal government itself — not the taxpayer, that finances all government expenditures.”
“The carpenter can’t run out of inches,” she tweeted in 2019. “The stadium can’t run out of points. The airline can’t run out of [frequent flier] miles. And the USA can’t run out of dollars.”
But an idea is not given value just by being strange or obtuse. (The best line about MMT is that it is Lysenkoism.)
That budget will not be fully paid for with tax increases or spending cuts. It will increase the deficit, according to Stephanie Kelton, and that constitutes an implicit if not explicit adoption of the principles of modern monetary theory (MMT)
Kelton is a professor at Stony Brook University and was an economic advisor to Bernie Sanders for his two presidential campaigns.
She is the author of The Deficit Myth and is an outspoken advocate of MMT
“[T]he idea that taxes pay for what the government spends is pure fantasy,” she writes in The Deficit Myth. “[I]t is the currency issuer — the federal government itself — not the taxpayer, that finances all government expenditures.”
“The carpenter can’t run out of inches,” she tweeted in 2019. “The stadium can’t run out of points. The airline can’t run out of [frequent flier] miles. And the USA can’t run out of dollars.”
But an idea is not given value just by being strange or obtuse. (The best line about MMT is that it is Lysenkoism.)
A Bard College e-pamphlet examined an interview given by Representative John Yarmuth (D, KY-03), Chair of the House Budget Committee, in which he explicitly adopts an MMT approach to budgeting. Chairman Yarmuth also lays out a path for realizing the major elements of President Biden’s proposals.
Jared Bernstein chairs the White House Council of Economic Advisers. He recently had some publicity because he struggled to explain Modern Monetary Policy.
Bernstein is a longtime economic aide to President Biden, although he lacks an academic background in economics. He earned a bachelor's degree in music from the Manhattan School of Music, as well as a master of social work from Hunter College and a doctorate of social work from Columbia University.
He has taught at several colleges, including Columbia and New York University, and worked as an economist for the Department of Labor during the Clinton administration. Bernstein has also worked at liberal think tanks, including the Economic Policy Institute and the Center on Budget and Policy Priorities. Bernstein worked as the chief economist and economic adviser to then-Vice President Biden from 2009 to 2011 during the Obama administration. He was an advisor to the Biden-Harris Transition Team, and after President Biden's inauguration, Bernstein was appointed to the CEA.
He was confirmed as the chair of the CEA on a 50-49 vote by the Senate in June 2023.
Meanwhile, at the State Department, ...
Our best and brightest.
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