An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
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Thursday, February 20, 2014
Zachary A. Goldfarb — With 2015 budget request, Obama will call for an end to era of austerity
I disagree with all these articles celebrating a victory against austerity.
For one thing, the latest budget agreement is nearly the Ryan budget. The austerians got most of what they were asking for. They won, we lost.
So now it's an election year. Both parties understand that austerity is unpopular, and in an election year, they actually care what people think.
So they'll be on their best behavior between now and the election. They'll even toss us a few crumbs. Then after the election is over, they'll forget us and go back to serving their 1% owners. And Social Security will be back on the table.
Looks like he's channeling NYC mayor, Bill DeBlasio. His political team must be looking at DeBlasio's huge win in NY and proposals such as early childhood education, money to the middle class, etc.
Media reports say Republicans are to announce a comprehensive tax reform plan that will cut individual and corporate taxes. Problem is it looks like they still cling to revenue neutral approach that will PAY for the tax cuts by eliminating many itemized deductions.
I disagree with all these articles celebrating a victory against austerity.
ReplyDeleteFor one thing, the latest budget agreement is nearly the Ryan budget. The austerians got most of what they were asking for. They won, we lost.
So now it's an election year. Both parties understand that austerity is unpopular, and in an election year, they actually care what people think.
So they'll be on their best behavior between now and the election. They'll even toss us a few crumbs. Then after the election is over, they'll forget us and go back to serving their 1% owners. And Social Security will be back on the table.
Looks like he's channeling NYC mayor, Bill DeBlasio. His political team must be looking at DeBlasio's huge win in NY and proposals such as early childhood education, money to the middle class, etc.
ReplyDeleteMedia reports say Republicans are to announce a comprehensive tax reform plan that will cut individual and corporate taxes. Problem is it looks like they still cling to revenue neutral approach that will PAY for the tax cuts by eliminating many itemized deductions.
ReplyDelete