Le Lézard
Classified in: Covid-19 virus
Subjects: CPN, POL, AVO

Discredited Fiscal Policy Framework on Display in Democratic Primary Debates

WASHINGTON, March 13, 2020 /PRNewswire/ -- The Our Money campaign calls on the media to note that thus far the Democratic primary debates and town halls have featured numerous examples of the false "pay for" debate. These displays show the extent to which our political discourse is captive to fundamentally false assumptions. Typically, it has been Senator Bernie Sanders who is attacked for the cost of his "Medicare for All" healthcare plan. Sanders himself does not challenge the assumption that his health care plan must be "paid for" with new revenue. However, as we have recently seen with the coronavirus response package, Congress is entirely able to simply authorize spending through Congressional appropriations without any tax offsets. As long as the inflation risk associated with the spending is low or at least manageable, this is an entirely responsible practice. 

The focus of concerns about "costs" of "Medicare for All" should not be how we will "pay for" the spending. Instead, the question should be what measures, if any, will be necessary to offset inflation risk. There is a clear lack of public awareness of these basic implications of the federal government's power as currency issuer to appropriate whatever funds it sees fit. As a result, our discourse is hampered by an exaggerated sense of the tradeoffs associated with responsible federal spending. This distorts the public debate and public opinion in ways that are harmful to the general public, and particularly the black community.

About Our Money
Our Money is a campaign which seeks to popularize an understanding of the importance of our public power of money creation and demand that it be used on behalf of the public to the fullest extent responsible, rather than diverted towards private interests.

Contact for inquiries: 
Tomeka B. Scales, Ph.D.
Program Director 
Our Money
FB/IG/Twitter: @ourmoneyus
*Sign up for the Our Money email list to stay informed on our campaign.

SOURCE Our Money

These press releases may also interest you

at 04:00
April 19, 2021 New state-of-the-art Central Acute Services Building at Westmead Hospital features next-generation diagnostic and neurovascular imaging solutions, aimed at improving the efficiency and accuracy of care delivered to trauma patients...

at 03:01
Clean Air Metals Inc. ("Clean Air Metals" or the "Company") (FRA: CKU) is pleased to announce new assay results (Table 1) from the drilling campaign at the Escape Lake Deposit currently underway with two drills at the Company's Thunder Bay North...

at 03:00
Valo Therapeutics Limited (Valo Tx), the developer of novel, adaptable immunotherapy platforms for cancer and infectious diseases, today announced the acquisition of intellectual property rights for the proprietary 'PeptiBAC' technology from the...

at 03:00
The natural surfactants market is set to grow by USD 2.99 billion, progressing at a CAGR of over 4% during 2021-2025. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall...

at 03:00
Lahti Region Transport (LSL) has completed a trial of Finland's first public transport timetables using solar powered e-paper technology from Papercast, in a project managed by Lahti-based Sx3-Group. LSL is the municipal authority responsible for...

at 02:05
MARCH QUARTER 2021 KEY HIGHLIGHTS1 Olaroz Lithium Facility (Olaroz) operations increased the Gross Cash Margin more than $1,800/tonne with the sales price up more than 50%. Costs remained near all-time lows despite much a greater proportion of...

News published on 13 march 2020 at 09:02 and distributed by: