Thread by @sdgrumbine

There are so many 1/2 baked populist ideas people latch onto & usually would screw us in the long run such as:
Constitutnl Convntion
Balanced Budget Amend
"Private Federl Reserve" conspiracy
UBI vs BI
State based Med for All
"Network of public banks to fund a #GreenNewDeal" 1/x

The cases they make for each of them are with a good heart in most cases but so uninformed it isn't funny...

A Constitutional Convention has been begged for by the Koch brothers and like minded libertarian fascists that they are prepared and have the governorships to make this end very badly for progressives.

A Balance Budget Amendment is equivalent to Nancy Pelosi's fetish for #PayGo and would destroy the economy by instituting austerity directly into the US Constitution. It would absolutely DEVASTATE us.

"priVate FeDeRal REseRvE" is the silliest trope and largely born in the James Bond novels people want to live their lives through. The Fed is a creature of Congress and when Congress authorizes spending on legislation the money is there. Government checks don't bounce.

UBI vs BI or Basic Income or... Expanded Social Security... UBI is a creature of neoliberalism. It has no price anchor, is an attack on labor, allows companies to subsidize shit wages and turns us into consumption units for capital.

#UBI: Another bad idea born out of good intentions by some, horrific intentions by Silicon valley gig economy pushing oligarchs. See link in comments.

State based Medicare Schemes lay bare for all to see that states cannot handle the fiscal costs of most entitlements as they have a heavy dependency on tax revenues and commerce.

This sets up the race to the bottom where states cut essential services because of budget shortfalls. They lure business in by tax breaks and invariably steal business from one state, along with the jobs and send them to another.

Creating a dog eat dog race to the bottom. The Federal Government can manage this infinitely and must be the one to do so

Pay for a Green New Deal with a Network of Public Banks... This is probably the worst of the ideas fully baked into a cake of ignorance. Public Banks are neat ideas but they are no replacement for congresional spending.

The concept of the "web of debt" is a treatise of ignorance that fundamentally fails to understand sovereign debt and plays on conspiracies that the left should absolutely be better than to fall for.