beowulf is the person responsible for this idea which now has 340,000 entries in Google and it’s very own place in Wikipedia!Way to go, beowulf!
Read it at Modern Monetary Realism
The Trillion Dollar Coin and the Debt Ceiling
by Michael Sankowski
beowulf is the person responsible for this idea which now has 340,000 entries in Google and it’s very own place in Wikipedia!Way to go, beowulf!
5 comments:
We could sure use Beo at Treasury; this from The President's speech this AM on the "Buffet Rule" which I think fomented Santelli's latest rant (WARNING: depressing read ahead):
"Now it’s not that these folks are excited about the idea of paying more taxes, this is something I’ve always made clear, I have yet to meet people who just love taxes. Nobody loves paying taxes. In a perfect world, none of us would have to pay any taxes. We’d have no deficits to pay down and schools and bridges and roads and national defense and caring for our veterans would all happen magically.
We’d all have money we’d need to make investments in the things that help us grow; investments, by the way, that have always been essential to the private sector success as well. They’re not just important in terms of the people that directly benefit from these programs; but historically those investments that we’ve made in infrastructure and education and science and technology and transportation, that’s part of what has made us an economic superpower.
And it’d be nice if we didn’t have to pay for them. But this is the real world that we live in. We have real choices and real consequences. Right now we’ve got significant deficits that are going to have to be closed. Right now we have significant needs if we want to continue to grow this economy and compete in this 21st century hypercompetitive, technologically integrated economy.
That means we can’t afford to keep spending more money on tax cuts for wealthy Americans who don’t need them and weren’t even asking for them. It’s time we did something about it. I want to emphasize this is not simply an issue of redistributing wealth; that’s what you’ll hear from those who object to a tax plan that is fair.
This is not just about fairness, this is also about growth. This is also about being able to make the investments that we need to succeed; and it’s about we as a country being willing to pay for those investments and closing our deficits."
http://foxnewsinsider.com/2012/04/11/transcript-president-obama-delivers-remarks-on-buffett-rule/
Humanity is at an intellectual low... sucks.
Resp,
Way to go, Beowulf indeed, and way to go Mike for calling attention to PPCS again.
I've done it also, both here: http://www.dailykos.com/story/2012/04/09/1081795/-Ending-Austerity-Getting-Free-of-Debt-Subject-To-the-Limit and
here:
http://www.dailykos.com/story/2012/04/11/1082372/--MMT-JG-Medicare-for-All-MMT
"We could sure use Beo at Treasury"
Second that. beo is living proof that lawyers jokes are based on hasty generalization.
can you recap what a trillion dollar coin is all about ?
is it a nice tidy way of lumping a lot of debt into a tender that would never be cashed in?
Goog,
Follow back to letsgetitdone's links that he has in his comment above... he and Beo are the authority on this.
resp,
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