Is there any truth to the GOP's argument that maintaining the current level of debt is unsustainable and that continuing to pay the interest on that debt will lead to serious damage to the economy? How do we push back on that argument?
Also please Sub to ChopWood Carry Water here on Substack for Civic Action Items with scripts for calls to your congresspeople on this and other topics!
I had a cold last week and ended up finishing The Price of Peace: Money, Democracy and the Life of John Maynard Keynes, by Zachary D. Carter. It's a wonderful read and helped me to better understand today's economics. I'm a ceramic artist, so a book that makes economic history intelligible to me is welcome. I think you will all be hearted by this quote in the book's conclusion:
"But all over the world, people are acting as if even this frightening global slide into authoritarianism might be reversed through the mechanisms John Maynard Keynes proposed three-quarters of a century ago. They are organizing, planning, and voting as if they really can improve society for themselves and their children by changing the economic arrangements that currently divert so much of the world's wealth into the hands of so few. In the United States, activists and politicians are promoting a Green New Deal, reviving the legacy of FDR to combat climate change through public investment. Mainstream economists now speak openly of moving "beyond neoliberalism, and" and there is talk in academic circles of a new Bretton Woods conference that might replace the global order erected in the 1990s with a new harmony of international economic interests.
These optimists may succeed, and they may fail. But they are pursuing a vision that sustained Keynes through three world crises and demonstrated beyond any doubt that a better world was possible on the other side. Keynesianism in this purest, simplest form is not so much a school of economic thought as a spirit of radical optimism, unjustified by most of human history and extremely difficult to conjure up precisely when it is most needed: during the depths of a depression or amid the fevers of war.
Yet such optimism is a vital and necessary element of everyday life..."
One of the most infuriating things is that the "Main Stream Media" coverage portrays this as a negotiating deal for President Biden. It is not. If we can't count on our free press to help people understand the true situation, we face an uphill battle indeed. Long gone are the times when the newspapers (back then it was only papers) exposed the truth and the corruption.
WAHOO!!!! Modest Dem Rep Mark Desaulnier from CA and his Rule Staff has laced a bill HR626 with a ‘discharge petition’. that needs now apparently ( not an expert here!) only 5 Republican House Rep signatures to be brave enough to avoid the default! And then a vote needing 50 Rupubs ‘
We should be grown ups’ Check it out! “Secret capacity to SAVE the Country from default “. Way to go.....forward thinking wise Dem politicians like this Rep! Now call your Reps CWCW on Substack. SHARE THIS PLEASE
Is there any truth to the GOP's argument that maintaining the current level of debt is unsustainable and that continuing to pay the interest on that debt will lead to serious damage to the economy? How do we push back on that argument?
Also please Sub to ChopWood Carry Water here on Substack for Civic Action Items with scripts for calls to your congresspeople on this and other topics!
I had a cold last week and ended up finishing The Price of Peace: Money, Democracy and the Life of John Maynard Keynes, by Zachary D. Carter. It's a wonderful read and helped me to better understand today's economics. I'm a ceramic artist, so a book that makes economic history intelligible to me is welcome. I think you will all be hearted by this quote in the book's conclusion:
"But all over the world, people are acting as if even this frightening global slide into authoritarianism might be reversed through the mechanisms John Maynard Keynes proposed three-quarters of a century ago. They are organizing, planning, and voting as if they really can improve society for themselves and their children by changing the economic arrangements that currently divert so much of the world's wealth into the hands of so few. In the United States, activists and politicians are promoting a Green New Deal, reviving the legacy of FDR to combat climate change through public investment. Mainstream economists now speak openly of moving "beyond neoliberalism, and" and there is talk in academic circles of a new Bretton Woods conference that might replace the global order erected in the 1990s with a new harmony of international economic interests.
These optimists may succeed, and they may fail. But they are pursuing a vision that sustained Keynes through three world crises and demonstrated beyond any doubt that a better world was possible on the other side. Keynesianism in this purest, simplest form is not so much a school of economic thought as a spirit of radical optimism, unjustified by most of human history and extremely difficult to conjure up precisely when it is most needed: during the depths of a depression or amid the fevers of war.
Yet such optimism is a vital and necessary element of everyday life..."
One of the most infuriating things is that the "Main Stream Media" coverage portrays this as a negotiating deal for President Biden. It is not. If we can't count on our free press to help people understand the true situation, we face an uphill battle indeed. Long gone are the times when the newspapers (back then it was only papers) exposed the truth and the corruption.
WAHOO!!!! Modest Dem Rep Mark Desaulnier from CA and his Rule Staff has laced a bill HR626 with a ‘discharge petition’. that needs now apparently ( not an expert here!) only 5 Republican House Rep signatures to be brave enough to avoid the default! And then a vote needing 50 Rupubs ‘
We should be grown ups’ Check it out! “Secret capacity to SAVE the Country from default “. Way to go.....forward thinking wise Dem politicians like this Rep! Now call your Reps CWCW on Substack. SHARE THIS PLEASE
https://youtu.be/kBh97HUiPvY