In the big budget fight going on right now in Congress, the Tea Party conservatives rightly point out that $61 Billion in spending cuts is just a drop in the bucket compared to the $1.6 Trillion predicted deficit, and they react with a great deal of moral fervor to the suggestion that they ought to compromise on $33 Billion in cuts in order to avoid shutting down the Government. more »
dailykos.com — In a reply to Paul Krugman, Scott Fullwiler illuminates a lot of the deep thinking and knowledge developed by those following the Modern Monetary Theory approach to economics. If you read this, you can see just how much work PK has to do to really understand it, and how far from the truth his characterization of it is. Heavy, but worth the time.
moslereconomics.com — Critical commentary by Warren Mosler on the recent statement by 11 former Chairpersons of the Council of Economic Advisers on the need for austerity policies such as those recommended in the Bowles - Simpson Report.
moslereconomics.com — This is a commentary on Greg Mankiw's fictional 2026 Presidential Address on catastrophic austerity. Warren Mosler gives us a paragraph-by-paragraph critique from the Modern Monetary Theory (MMT) point of view.
Isn't it true that in actuality, the US doesn't, in fact "borrow'? It spends or trades? And if that is the case, doesn't that just blow the deficit hawks out of the water?
The Modern Monetary Theory (MMT) approach to economics must be starting to make some waves, because today, Paul Krugman, followed his earlier attack on it and his debate with Jamie Galbraith and others last summer, with more »
Over the last couple of weeks there's been an exchange between Charles Krauthammer writing in one of the austerity mongers' favorite newspapers and Jack Lew, the Director of the Office of Management and Budget (OMB), writing at the OMB blog. This exchange illustrates a kerfuffle, that ignores the real issue surrounding entitlements and fiscal responsibility. more »
Delicious
Digg
StumbleUpon
Propeller
Reddit
Magnoliacom
Newsvine
Furl
Facebook
Google
Yahoo
Technorati
