Profile picture
Citizens' Media TV 🦉🌹
@citizensmediatv
, 7 tweets, 6 min read Read on Twitter
1/ The Federal Job Guarantee (FJG) is not an “add on” to Modern Monetary Theory (#MMT), it is integral. As I understand it, the FJG is the only major policy prescription of MMT, which is otherwise a description of how our economy actually functions. Evidence 👇.
2/ #MMT core economist @billy_blog, at the nine-minute mark in this interview with @MMTpodcast hosted by @PatriciaNPino and @christreilly: “It’s not just an optional add-on policy preference, it’s a central core part of our theoretical structure." pileusmmt.libsyn.com/11-bill-mitche…
3/ Economist @ptcherneva, the primary economist behind the #MMT designed FJG. "@DougHenwood’s discussion of the Job Guarantee (JG) is a bit more charitable, probably because he believes (incorrectly) that the program is accessory to the MMT project." jacobinmag.com/2019/02/mmt-mo…
4/ “accessory”
The American Heritage® Dictionary of the English Language (@ahdictionary), 4th Edition: ahdictionary.com/word/search.ht…
5/ Economist @StephanieKelton: "MMT would establish a public option in the labor market — a federally funded job guarantee — thereby ensuring full employment across the business cycle.” bloomberg.com/opinion/articl…
6/ #MMT core economist @stf18; @rohangrey, Doctoral Fellow at Cornell Law School; @nathantankus, Research Director of the Modern Money Network: "Indeed, our principal policy recommendation is a Job Guarantee..." ftalphaville.ft.com/2019/03/01/155…
@threadreaderapp unroll
Missing some Tweet in this thread?
You can try to force a refresh.

Like this thread? Get email updates or save it to PDF!

Subscribe to Citizens' Media TV 🦉🌹
Profile picture

Get real-time email alerts when new unrolls are available from this author!

This content may be removed anytime!

Twitter may remove this content at anytime, convert it as a PDF, save and print for later use!

Try unrolling a thread yourself!

how to unroll video

1) Follow Thread Reader App on Twitter so you can easily mention us!

2) Go to a Twitter thread (series of Tweets by the same owner) and mention us with a keyword "unroll" @threadreaderapp unroll

You can practice here first or read more on our help page!

Related hashtags

#MMT

More from @citizensmediatv see all

Profile picture
Citizens' Media TV 🦉🌹
@citizensmediatv
1/ How are you going to pay for it?

[#LearnMMT THREAD]

Our federal representatives, media, and so-called experts incessantly tell us that it is

not
possible

to give us the things that would help us

not die,
suffer,
go bankrupt, or
be unemployed.
2/ Our representatives tell us that they

can't

give us these things, even though they

really

want to.

They can't because, they tell us, if they dared even try, it would cause

"out of control inflation,"
dramatically raised taxes,
"wasted taxpayer dollars,"
3/ and "the ballooning debt and deficit would bankrupt our grandchildren when the bills came due."

They tell us that the only thing more important than helping the people

not die,
suffer,
go bankrupt, or
be unemployed.

is to be "fiscally responsible."
Read 21 tweets
Profile picture
Citizens' Media TV 🦉🌹
@citizensmediatv
1/ The

federal deficit

is the amount of money spent by the government in a single year, minus what it collects back in taxes.

$3 trillion 👈 spending
- $1.7 trillion 👈 taxed
———————————————
$1.3 trillion 👈 the federal deficit

[#LearnMMT THREAD v2]
2/ The *size* of the federal deficit is not what’s important. The only thing that matters is what our government

chooses to
do,
who they choose to do it
for,
and who they choose to
not
do it for.
3/ The *size* of the federal deficit does not matter. The only thing that matters is

how moral,
equitable,
efficient, and
INFLATIONARY

their spending is.

If we have the resources to do it,
do it.
If we don’t,
don’t.
Read 12 tweets
Profile picture
Citizens' Media TV 🦉🌹
@citizensmediatv
1/ The

federal deficit

is the amount of money spent by the government in a single year, minus what it collects back in taxes.

(The national debt is the sum total of every deficit since the country began.)

[#LearnMMT THREAD]
2/ The *size* of the federal deficit is not what’s important. The only thing that matters is what our government

chooses to
do,
who they choose to do it
for,
and who they choose to
not
do it for.
3/ The *size* of the federal deficit does not matter. The only thing that matters is

how moral,
equitable,
efficient, and
INFLATIONARY

that spending is.

If we have the resources to do it,
do it.
If we don’t,
don’t.
Read 12 tweets

Related threads

Profile picture
Michael Liebreich
@MLiebreich
The climate détente of the past decade (whereby action is to be energetically pursued, but only if it doesn’t jeopardize the recovery from the great recession, upend the neoliberal economic model, or damage any powerful incumbents) is fracturing. 
about.bnef.com/blog/liebreich…
The world of 2019 is not the world of 2009: 1) We know far more hard climate science; 2) In 2009 it was still plausible to claim there were no alternatives to fossil fuels; 3) A decade after the financial crisis, many are still struggling economically.
about.bnef.com/blog/liebreich…
The #ClimateStrike movement, sparked by the preternaturally determined 16-year-old Greta Thunberg, has now spread to 14 countries. Anyone who thinks it will fizzle out any time soon has forgotten what it is to be young.
about.bnef.com/blog/liebreich…
Read 18 tweets
Profile picture
Mr. Bunch
@darinbunch
Americans have a “Logic Deficit” when it comes to how the U.S. government *should* operate to both serve and benefit as many citizens as possible while protecting the country and providing the framework in which society functions.

A thread with two examples ...
/1
Myths about “how government works” are created because key aspects of U.S. government operations are viewed through the faulty lens of “This is how one thing works, so it must also apply to how all things work.” /2
This is illogical, obviously. Sometimes the differences are as subtle as comparing apples to oranges. Other times as glaring as comparing an ant to Shaquille O’Neal. All things are not equal. Thus, they shouldn’t be treated as equal. And, yet, this is how myths are created. /3
Read 26 tweets
Profile picture
Gower Initiative for Modern Money Studies
@GowerInitiative
@Roonomics @MartinSLewis An understanding of ‘money’ and personal finances will stand young people in good stead for navigating their adult lives.
We very much welcome a textbook for this age group.
@Roonomics @MartinSLewis It’s also important for our democracy, that young people grasp the basic principles of government finances and economics as they apply on a national level. This will stand them in good stead when it comes to making important decisions at the ballot box.
@Roonomics @MartinSLewis Modern Monetary Theory #MMT describes how our economy works today.
It is a lens for viewing currency operations and government finances. It forms a framework that policy makers can use to make best use of our resources and the public purse.
Read 4 tweets
Profile picture
Gower Initiative for Modern Money Studies
@GowerInitiative
Professor Philip Alston, Special Rapporteur to the UN, today begins a two week fact finding mission of the U.K. to examine the government’s efforts to eradicate poverty.
To establish whether it is meeting its obligations under international human rights law.
A full itinerary of Professor Alston’s mission to visit government officials and campaigning groups has been made available to the general public.
ohchr.org/EN/Issues/Pove…
The visit is intended to provide @Alston_UNSR with additional information on poverty & human rights in the UK.
Extensive input & research in advance of his visit has seen more than 300 submissions from people affected by poverty, civil groups, government officials and academics.
Read 10 tweets
Profile picture
Sean Bryan
@seanpbryan
I had never heard of Modern Monetary Theory #MMT until this @planetmoney podcast. It piqued my interest and I started reading more about it. It has completely transformed the way I view govt. spending and what govt. should be doing.
npr.org/sections/money…
1/4
I'm still trying to understand a lot of this, but my big takeaways are:
1) Taxes do not fund federal govt. spending; the govt. creates money and then removes it through taxes. So, it is impossible for the federal govt. to run out of money; it cannot default.
2) A federal deficit means a private sector surplus, and a federal surplus means a private sector deficit (ignoring foreign trade). In order for you and me and all other private individuals and companies to have savings, there must be a govt. debt!
2/4
Read 5 tweets
Profile picture
The Real Progressive #MMT
@sdgrumbine
Macroeconomics never really mattered to me in either grad school program I completed because I truly thought the US Government had to borrow money from private banks & that the economy was dependent on the private sector. Then I was able to #LearnMMT & now I know its on Congress!
It all came together once I learned the very basic foundational truth that there are currency issuers and currency users. #LearnMMT
That the currency issuer could never go broke on debt denominated in it's own currency... unless their was a commodity peg (like gold) with convertibility associated with it. #LearnMMT
Read 23 tweets

Trending hashtags

#MedicareForAll #CollegeforAll #SinglePayerSunday #unroll #Aracon2019 #MMT #singlepayer #econtwitter #MedicareExtra #LearnMMT #healthcare #SinglePayer #GND #DeFi #economics #AbolishICE #PAYGO #HR676 #SB562 #Medicare4All #M4A #MedicareforAll #MedicareForAllVoter #ChangeIsComing #FJG
Follow Us on Twitter!

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just three indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3.00/month or $30.00/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!