politics

If you think the so-called Department of Government Efficiency (DOGE) is saving some of your hard-earned tax dollars, then you don’t understand money. The federal government, being the issuer of the U.S. dollar, creates new dollars from thin air every time it spends. It does this by using a computer to mark up the size […]

Republicans in Congress are proposing cuts to many programs that benefit Americans: Social Security, Medicare, Medicaid, the Affordable Care Act, etc. They cite the national debt, currently over $34 trillion, as the reason we must reduce that debt. If we don’t, they’ll say, we’ll leave an overwhelming burden for our grandchildren. You might share that

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

Congress is currently debating ways to “save” Social Security and Medicare. As has been reported repeatedly, the programs’ trust funds will soon be depleted. Should you be concerned? Absolutely, but not in the way you might think. Social Security and Medicare comprise two trust funds each. The former has the Old-Age and Survivor’s Insurance (OASI)

The U.S. national debt has surpassed $30 trillion. Should we be worried? Like many people, I used to view the national debt the same way I viewed my personal debt. My household can borrow only so much money before we get into trouble. If we’re unable to make payments on time, we could get hit

Here’s an excellent talk by Bill Mitchell about how most progressives fall into the trap of using neoliberal framing, usually without realizing it. He also gives some examples of how to change the conversation to avoid that trap and to make positive change more likely.

Here’s an excellent editorial from Raúl Carrillo & Jesse Myerson on the myth of “taxpayer money”. When it came to explaining money, Margaret Thatcher was either a doofus or evil. I don’t think she was a doofus.

An interview with Philip Mirowski.

  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

Here’s an excellent article, by Sam Adler-Bell, on how we can afford the programs we so badly need.

Why can’t we have politicians who understand how money and federal spending actually work? In any case, Stephanie Kelton explains it yet again. Pay attention this time!

Thomas Piketty thinks a Bernie Sanders’ Presidency would be good for the U.S. economy. That shouldn’t be surprising to anyone who spends any time actually thinking about it. Because of inequality in this country, a lot of wealth is tied up in stocks and bonds, where it does nothing to stimulate the economy. Now consider if some of

James K. Galbraith provides this detailed analysis of Bernie Sanders’ agenda and its feasibility.

Stable Genius Trump likes to brag about the stock market, but that is not a good measure of how well the economy is doing. Joseph Stiglitz explains that Trump deserves a failing grade on economic matters.