One of the most important factors of a program like a Federal Job Guarantee or Medicare for All is that they cannot be "budgeted" for as programs like the #FJG are automatic stabilizers that rise and fall based on economic triggers that put them into play. Similarly with #M4A
If a pandemic sweeps through, a Federal Medicare for All would simply make payments and the costs would be irrelevant to the population.
Same with a Job Guarantee. If there is a downturn in the economy, triggers like unemployment would propel people onto the Federal Job Guarantee. Budgeting is irrelevant. It ebbs and flows based on the macroeconomic state of the economy at any given time.
This is not the same at the state level. Since states cannot create currency Article 1 Section 10 of the USC precludes states from issuing dollars to make payments in the case of tax shortfalls. States need to pay for stuff with taxes and bonds. Not so with the Federal Government
So discussing automatic stabilizers being run at the state level is a red herring. It cannot be done without direct subsidization of programs at the Federal Level.
So creating state based "pilots" cannot be conducted without the Federal Government subsidizing the automatic stabilizer aspect which is vital to the success or even proofs needed to move forward. The automatic stabilizer is the most important aspect of its viability.
And once you begin raising state and local taxes to find programs you end up with two horrific conditions. One is capital and tax flight of businesses and the wealthy or two gentrification to draw in an exclusive community pricing out the poor.
Why do you suppose state based policy advocates attack me as a person for what I said versus attack their own understanding of macroeconomics?

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More from @sdgrumbine

May 28
#MMT is here & now. The powerbrokers understand it & use it to serve wealth & ensure wealth stays intact. Neoliberalism is their ideology. They know capitalism demands nee markets & new areas to grow. So they destroy public services to create new private sector markets. #MMT 1/x
They are *M U R D E R E R S* and sadly disinformation has led to a sheep like adherence to the murderous ways and we believe the false scarcity narratives meant to keep us beholden and slaves to the bidding of elite capital.
MMT is not the problem it describes how the system works currently. Shows the evils, though many will make it appear these folks are just simply midguided or uneducated, the elites know what they are doing.
Read 10 tweets
May 20
In a time of unprecedented economic despair, a politician must Absolutely, Unequivocally know how Federal Finance works to save lives. No more Economically illiterate candidates.
We literally cannot afford it.

1/x
If we call it manslaughter or murder when we run over people with a car by accident or on purpose respectively, what is it called when you push for cuts to Federal Spending and kill thousands from austerity?

Manslaughter for the ignorant?
Murder for the informed...

And those who voted for them or tried to shut down truth tellers about the economy?

I call them accomplices.

Those innocently duped?

Let's hope we can educate enough in time before we find out.
Read 4 tweets
May 18
For anyone who thinks MMT (Modern Monetary Theory) is a subject that can be put off or ignored.

1. Because of that mindset we do not have healthcare in the USA.
2. Children, families and the elderly are burdened with 1.9 trillion in student debt
1/x Image
3. We do not have relief payments to families in the midst of a pandemic. No nationalized Payroll. No job guarantee.
4. Families are breaking up over Economic insecurity
5. We have no right by law to an education
6. We do not have paid family and medical leave.
7. We have no job guarantee
8. Banks are putting us in private debt because the Federal Government isn't spending on the people
9. Million die from hunger, exposure, preventable illnesses, unemployment and suicide
Read 6 tweets
May 14
I have come to the terrifying conclusion that you have to break a few eggs to make an omelet. This is particularly true if you are a project - oriented person. 4 years ago, the IPCC gave us 12 years. We are down to 8 years and things have only gotten worse. Still so few talk #MMT
Honestly, once you make the decision... once you accept the science... climate catastrophe could lead to yet another mass extinction. We are not educating the world fast enough that we can afford to survive. Too many deniers of both climate crisis & #MMT to counter rampant idiocy
There is simply no time left to placate the precious sensibilities that serve as a gatekeeper to our collective survival. Every single day we allow the naysayers grown up status, we are that much closer to the brink. Our kids deserve better than #MMT and Climate Crisis deniers
Read 5 tweets
May 7
I saw a disturbing comment from someone I don't believe I ever interacted with in my life. Their comment moved me so much I believe I am going to write a series of articles about it.

Let me start with the following:

1/x
1. For 40 plus years, the neoliberal era has reigned.
During that time, people have had little by way of resistance from the lies, deceit and self imposed prisons of ineffectual domestic governance and austerity.
2. The lies were baked into the school system, newspapers, sit comms, political debates even cartoons took the ideas of neoliberalism into the hearts and minds of our children...the people.
Read 35 tweets
Apr 20
So the plan is always to privatize as much as possible all in the name of creating markets.

This is neoliberalism.

It can only thrive based on lies.

Based on the idea that the government is broke, in debt to foreign nations or conspiracies like the Rothschilds etc.

1/x
It can only thrive as long as you believe that your "hard earned tax dollar" is paying for someone's bad decisions.

They can make the case repeatedly that we cannot afford to do nice things.
Worthlessly, many in the political sphere advance this lie and we believe them. We allow them to represent us with falsehoods.
Read 10 tweets

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