Showing posts with label US politics. Show all posts
Showing posts with label US politics. Show all posts

Thursday, April 2, 2020

We Are All MMTers Now — John Furlan

The U.S has potentially entered the Age of Modern Monetary Theory (MMT) with the deficit-busting stimulus bill, which would follow the two previous political/economic paradigm shifts, the Age of FDR/Keynes from 1932 to 1980, and the Age of Reagan/Friedman from 1980 to 2008. It’s just that most Americans haven’t even heard of MMT yet, but that could change very quickly if Sanders starts mentioning it,...
If Sanders does so, he may still have the very belated chance to lead the historic paradigm shift, even if he doesn’t get the nomination, should he choose in the next Democratic debate in April, using the stimulus bill as the consummate opportunity.
To do so, what Sanders must emphasize from this day on should be based on what Kelton wrote in her March 21 New York Times op-ed, which - because of the stimulus bill - is BY FAR the single most important thing you MUST read this week, other than articles on Covid-19 safety. Here are her last three paragraphs: 
economicintersect.com
We Are All MMTers Now
John Furlan

Thursday, March 5, 2020

Trump Budget Seeks Deep Non-Defense Appropriations Cuts, in Break With Bipartisan Agreement — David Reich & Jennifer Beltrán

The Trump Administration’s 2021 budget calls for major new cuts in programs funded through non-defense appropriations. This budget category, often called non-defense discretionary (NDD), supports veterans’ medical care, aid to education, environmental protection, low-income housing, scientific research, infrastructure, public health, national parks, justice and law enforcement, job training, and many other important services and investments.[1]

"THE BUDGET ABANDONS THE BIPARTISAN AGREEMENT REACHED LAST YEAR THAT PROVIDED A MODEST $5 BILLION INCREASE FOR THIS CATEGORY IN 2021, AND INSTEAD CALLS FOR CUTTING NDD FUNDING $46 BILLION."The budget abandons the bipartisan agreement reached last year that provided a modest $5 billion (0.8 percent) increase for this category in 2021, and instead calls for cutting NDD funding $46 billion below its 2020 level[2] — a 7 percent overall reduction (9 percent after adjusting for inflation). This reduction is spread throughout most non-defense agencies, with proposed inflation-adjusted cuts of 28 percent for the Environmental Protection Agency, 17 percent for the Department of Housing and Urban Development, 15 percent for the Department of Transportation, 11 percent for the Department of Health and Human Services, and 10 percent for the Department of Education, to give just a few examples.

The budget also envisions ever-deeper NDD cuts in years after 2021, reaching 38 percent in inflation-adjusted terms by 2030. Cuts of this magnitude would necessarily mean a major scaling back in most activities funded through NDD appropriations....
President Trump breaks bipartisan agreement by transferring funding from general welfare expenditure to military expansion and to offset his previous tax cuts and planned tax cuts. The absolute amount of spending may remain about the same as projected, although the president is also trying to reduce the deficit. The difference is in the distributional effects, making defense contractors and the wealthy better off while increasing distributional asymmetry.

Center on Budget and Policy Priorities
Trump Budget Seeks Deep Non-Defense Appropriations Cuts, in Break With Bipartisan Agreement
David Reich & Jennifer Beltrán

Tuesday, February 11, 2020

Pete Buttigieg's Vow to Cut the Deficit Is Fiscally Irresponsible — Eric Levitz

“Fiscally responsible” is one of the more Orwellian phrases in American politics. Lawmakers earn that coveted title by affirming the three tenets of the Beltway’s official budgetary orthodoxy: (1) Deficits are inherently undesirable, (2) all new spending (on things that cannot be used to kill foreigners) should be fully offset by new taxes, and (3) reducing America’s existing national debt should be a top-tier policy priority.
But these premises are rooted less in economic science than popular superstition. And, over the past decade, our political class’s indulgence of the public’s mythical intuitions about the national debt has imposed gargantuan costs on our collective prosperity. In the present context, validating the electorate’s economically illiterate fears of public debt is roughly as “responsible” as affirming the anti-vaccine movement’s conspiracy theories about the CDC.
Cites MMT.

Pass along to Pete's supporters.

Intelligencer
Pete Buttigieg's Vow to Cut the Deficit Is Fiscally Irresponsible
Eric Levitz

Monday, February 10, 2020

Growing attacks on socialism in Democratic presidential race — Patrick Martin


Americans debate not only economic policy but also their economic system. Is neoliberal "capitalism" fighting for its life against a rising trend toward social democracy in an increasingly unequal world? 

WSWS
Growing attacks on socialism in Democratic presidential race
Patrick Martin

Trump outlines massive cuts in Medicaid and Medicare in 2021 budget plan — Kevin Reed


A look at the plan to cut non-discretionary spending and increase the budgets of the Pentagon and Department of Homeland Security.

WSWS
Trump outlines massive cuts in Medicaid and Medicare in 2021 budget plan
Kevin Reed


Friday, February 7, 2020

Media, Democratic Establishment Panics as Sanders Predicted to Sweep All 50 States — Alan Macleod


Has socialism's time come? Capitalists freak out at the prospect of a Bernie administration.

Interestingly, what this shows is that an economic system is a policy variable in a social system.

Mint Press News
Media, Democratic Establishment Panics as Sanders Predicted to Sweep All 50 States
Alan Macleod

Monday, February 3, 2020

As Bernie Sanders Surges, DNC Launches “Troll Army” Ahead of Iowa Caucus — Alan Macleod

The Democratic National Congress (DNC) has set up an extensive online communications team of trolls – and is launching it just in time for the Iowa caucus. CNN’s Donnie O’Sullivan spoke to a number of its agents (almost all of whom insisted on remaining anonymous) and reported that the new DNC project is working with government agencies like the FBI and the Department of Homeland Security as well as online media giants like Facebook, Twitter, Google and Reddit.

The DNC present the project as a “counter disinformation team” aimed at correcting Russian interference online. “Both Republicans and foreign actors, like Russia, have an incentive to divide the American electorate and may try to use the Iowa Caucus to further that goal,” it said. However, if history is any judge, there is reason to believe the real target of the mission is to discredit surging outsider candidates challenging the Democratic establishment, chief among them Bernie Sanders....
The Clinton/Obama machine at work to stop Bernie?

Mint Press News
As Bernie Sanders Surges, DNC Launches “Troll Army” Ahead of Iowa Caucus
Alan Macleod

Thursday, December 12, 2019

Moon of Alabama The Impeachment Deal Between — The House And The Senate


I think this is correct, and if it is the question arises, why a deal? The political answer is simple. Both bases require it. The Democratic "resistance" requires impeachment and the Trump base requires speedy acquittal. Everyone is satisfied and DJT wins, too. Hey, politics is all about winning.

Moon of Alabama
The Impeachment Deal Between The House And The Senate

Thursday, November 14, 2019

The Birth of the Deep State: A History — Peter C. Earle

This is an excellent backgrounder.
But where did the American deep state come from? Has it always been there?In fact, the evolution of the deep state (and this choice of term, “evolution” as opposed to “creation”, will be explained later) is — some might say ironically — found in a nearly 140-year old anti-corruption “reform” measure; one that was explicitly focused upon depoliticizing the civilian component of the United States government....
The architects of the reform also failed to recognize that individuals who are hired are no less likely to have political inclinations than those awarded the same position out of sheer patronage. And where those who held positions in the spoils system were washed out of office in four years, a corps of (essentially) permanent bureaucrats facing the prospect of pensions and positions of greater influence amid zero public accountability are likely to be outwardly demure while no less political than their forebears.
The tremendous edifice that is the US civil bureaucracy — currently numbering somewhere around 2.85 million individuals — is, like any other huge organization, subject to both imposed and emergent orders. There are explicitly assigned executives and managers, labyrinthine organizational charts, job descriptions, pay grades, areas of responsibility, manuals of every sort, and every other standardization that informs (and hinders) the modern workplace.
But as the size of the bureaucracy has swelled it has also acquired a dissociated but consistent “consciousness”: a spontaneously-ordered, unstructured but undoubtedly focused and effective mechanism. Its major functions are to thwart political measures it collectively deems unpalatable, and to vigilantly protect the existence of the greater body within which it thrives.
No orders are issued, and there is no chain of command. It communicates by example: leaks reported in the news beget more leaks, anonymous tips spawn a rash of new tipsters. No lofty conspiracy theories are necessary; a massive army of bureaucrats in an era of free/highly affordable burner phones, file sharing services, and document scanning apps are more than sufficient to gum up the wheels of executive action.
There are no secret codes, no dead drops, and no shadowy agents meeting in parking garages in the dead of night: perhaps more dauntingly, the deep state coalesces from among a seemingly incalculable number of nondescript men and women with families and homes in the Virginia and Maryland suburbs of Washington D.C. It receives a salary every two weeks, drawn upon the United States Treasury. Its atomic elements — individuals — coach Little League, go to Zumba classes, and generally have mainstream opinions. Many, no doubt, dismiss the very notion of a deep state. Even when they send an anonymous email, shred a document intended for other eyes, or impishly pass a tip to someone with a second- or third-hand relationship in the media, most of them probably see the deep state as something larger, above and beyond themselves.
Yet they are the deep state.
The "deep state" is a combination of the intelligence services and the bureaucracy, which was famous as the siloviki and nomenklatura in the USSR, with roots in Tsarist Russia and which persists under the Putin administration. These people have affiliations, some of which are political (party) and economic (program patronage). And everyone has an ideology that shapes the worldview that they take to be reality.

In present day Russia, following the Yeltsin years and neoliberal shock therapy under the direction of US advisors, the oligarchs emerged from "cowboy capitalism," who Putin has been able only to modest bridle. They have an analog in the US in the 0.01% that provide the bulk of political contributions to federal and state politicians. The result is a group of people that live in a different world from the rest and enjoy a double standard of justice, allowing them great freedom to act.

Conspiracy is not the driving force behind the deep state but rather interest and protecting investment. There is no conscious conspiracy behind the deep state, although individuals may conspire in some instances. Moreover, owing to different interests and affiliation, there are different factions vying for place and power.

In short, the so-called deep state is not some aberration but rather one of the outcomes of political institutionalization in liberal democracies, similar to the palace court in imperial times, along with the upper echelon of the different centers of power — intelligence, military, etc.

This doesn't mean that the deep state is not real ("oh, it's just bureaucracy) or that the deep state is a conspiracy theory, as often charged or spun in the conventional narrative. The existence of the deep state makes a difference and that difference can be detected and described....
A bigger question is whether the deep state is, even as an unintended consequence of the Pendleton Act, a “feature” or a “bug”. Do unelected government employees play a critical role in restoring equilibrium even in a nominal democracy, or do they represent an insidious, potentially worrisome repository of accidental power?...
For a very long time, Americans have had the odd feeling that elections don’t matter nearly as much as the media hoopla surrounding them would imply. It’s true, and one reason why has everything to do with fundamental changes in the way we hire and fire within the federal bureaucracy. The emergence of the deep state is by design a buffer on democracy itself, with the cost of a less adaptable regime and growing public cynicism concerning who really is in charge.
Peter C. Earle, MA in Applied Economics from American University, an MBA (Finance), and a BS in Engineering from the United States Military Academy at West Point

Sunday, November 10, 2019

David Stockman — How the Deep State Really Works

If you take away the Korean threat, if you recognize the Iranians aren’t a threat, if you see that Russia is a tiny little country that’s not going to invade Western Europe and crash through the Brandenburg Gate in Berlin, and so forth—
All of a sudden somebody is going to do the math as we get into the coming fiscal crisis and say, “We can’t afford all this defense that we don’t need. Let’s cut it back dramatically.”
They don’t want this to happen. And so, they have to keep these hot spots burning and these threats maintained or inflated, because they know if the real truth of the world were considered by Congress, the defense budget would be slashed dramatically.…
The president of the United States should be leading the great global disarmament conference of 2021, and yet that won’t even come up. It’s not even on the radar screen.
It’s not even mentioned [in the campaign] because, as I say, the Warfare State machinery essentially squelches any kind of debate, suffocates any kind of thought that at all deviates from the status quo.
The big issue in the world today is war and peace, and we’re facing a campaign in 2020 where it won’t even be mentioned.
We knew this already but here is former US budget director telling us how it works in the warfare state versus the welfare state. Follow the money.

International Man
David Stockman on How the Deep State Really Works
David Stockman

Friday, October 18, 2019

ZH — Twitter War Breaks Out Between "Russian Asset" Tulsi Gabbard And "Warmongering Queen" Hillary Clinton


Is American politics basically a food fight?

Not just Tulsi either.
And just to make sure she finds yet another scapegoat for her loss, Clinton also accused 2016 Green Party nominee, Jill Stein, who ran against her and Donald Trump in 2016, of also being an asset of Russia: "That’s assuming Jill Stein will give it up, which she might not because she’s also a Russian asset."...
Zero Hedge
Twitter War Breaks Out Between "Russian Asset" Tulsi Gabbard And "Warmongering Queen" Hillary Clinton
Tal Axelrod

Tuesday, October 15, 2019

Prophetic Words from the Clintonian '90s — Detroit Dan


Richard Rorty on how what passes for the "left" in American politics, the Democratic Party, was losing the plot. 

Here is another quote from Rorty: 
My sense of the holy is bound up with the hope that some day my remote descendants will live in a global civilization in which love is pretty much the only law.
Richard Rorty
quoted by Jürgen Habermas, in "Philosopher, poet and friend," Sound and Sight (12/06/2007)

Mindorenyo
Prophetic Words from the Clintonian '90s
Detroit Dan


Friday, September 6, 2019

The Enduring Mystery of Tulsi Gabbard: The 38-year-old presidential contender does not fit any “conventional” political profile. Edward-Isaac Dovere


The politicians and media don't know what to make of a real person, a person with strong conviction, a combat veteran and a person of honor. 

There aren't many of those around at the upper echelons of TPTB in America, where only money talks and the name of the game is power. "Sell, grandma?" "How much are you willing to pay?"

Disclosure: As a Vietnam era vet — naval officer serving on a ship in the Western Pacific 1964-1967, I support her non-interventionist position. She is the only candidate that puts foreign policy realism first, and the office of the presidency is chiefly about foreign policy formulation and execution. She is neither a Wilsonian internationalist nor a Jacksonian nationalist. She strikes a happy balance at the center of the spectrum, focusing realistically on national interest than than either isolationism or empire. She is for peace without being a "peacenik." Having seen war up close, I am all for that. While I would rather see her mission extended to opposing the apartheid Israeli regime, I also understand that opposition to or criticism of Israeli policy has replaced Social Security as the third rail of US politics.

The Atlantic
The Enduring Mystery of Tulsi Gabbard: The 38-year-old presidential contender does not fit any “conventional” political profile.
Edward-Isaac Dovere

Thursday, September 5, 2019

Monday, September 2, 2019

Moment of truth approaching for Trump’s trade war — Nile Bowie

New fourth round of tariffs on Chinese goods will hit US consumers and firms especially hard, just as the US enters an election season.
Who blinks first?

Asia Times
Moment of truth approaching for Trump’s trade war
Nile Bowie

Sunday, September 1, 2019

The American Working Class Dilemma — Joel Kotkin


Written from a conservative angle but raises important issues and questions of concern to all, especially politicians that have to respond to them in the coming election cycle. This presents dilemmas for both parties in the US presidential election campaign that is now underway.

New geography
The American Working Class Dilemma
Joel Kotkin is the R.C. Hobbs Presidential Fellow in Urban Futures at Chapman University in Orange and executive director of the Houston-based Center for Opportunity Urbanism