economics

Saving Social Security and Medicare From Their Saviors

Lacking action by the U.S. Congress, Social Security and Medicare will face funding shortfalls within the next ten years. Both parties claim they won’t cut the programs, but their past “reforms” to strengthen them have been cuts under different names: raising the eligibility age, taxing benefits, limiting COLAs, etc. Social Security’s OASI (old age and […]

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CBC on MMT

CBC Radio posted a discussion of MMT in the midst of the COVID-19 pandemic. It was generally well done, and I recommend you listen to it (37 minutes). The reporter provided a decent overview of economics from Keynesianism through monetarism to the present day. On the whole, he was fair and objective. However, I heard a

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On Socialism

  There are myriad definitions and variations of socialism. If you don’t believe me, check out the term’s Wikipedia page. Things that have been called socialist: publicly owned lands, such as state and national parks [1] eminent domain [1][2] Social Security [1][3] the New Deal [1][5] public housing [1] the civil rights movement [1] bank

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The FT on MMT

For the Kansas City Chiefs, a 14-point deficit at half-time is a problem. But that means their opponent has a 14-point surplus. Is that a problem for them? Of course not. The “federal debt” is the private sector’s savings. Personally, I’m happy to have some of those savings. How about you? Read more in this Financial

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