Economy Faces a Jolt as Benefit Checks Run Out

When there is a lack of aggregate demand due to high ‘savings desires’ as the unemployed take jobs when benefits expire, it just means someone else loses a job, and then some, as govt deficit spending falls as well, further reducing aggregate demand. It also serves to drive down wages, as per the latest jobs […]

Modern Monetary Theory: The Last Progressive Left Standing

Modern Monetary Theory: The Last Progressive Left Standing By Warren Mosler

social security solvency

>    >   (email exchange) >    >   Joe wrote: >    >   The argument Stephanie used in the youtube clip is summarized by her here. >    >   Here’s the quote: “Funding Social Security is always and everywhere a political choice. The strongest evidence of this comes directly from the 2009 Annual Report of the Trustees. In that report, they predict gloom […]

Town hall meetings suggestions

The National Commission on Fiscal Sustainability is holding town hall meetings June 26, with an eye towards ‘fixing’ Social Security. Here’s a suggested question for anyone attending: ‘I agree with statements by both Bernanke and Greenspan as well as David Walker from the Peterson Foundation that as a matter of monetary operations there is no […]

senator kohl on SS “solvency”

Press Release of AGING – NON Committee KOHL: SOCIAL SECURITY SOLVENCY, TARGETED BENEFITS CAN BE IMPROVED WITH MODEST TWEAKS Aging Committee Report Delivered to Members of the Fiscal Commission Contact: Ashley Glacel (202) 224-5364 Tuesday, May 18, 2010 WASHINGTON, D.C. – Today U.S. Senator Herb Kohl (D-WI), Chairman of the Senate Special Committee on Aging, […]

Fighting back against the move to slash Social Security

Social Security is not being attacked on its merits. Therefore the bleeding heart arguments will not prevail. The protagonists believe the problem is that the federal government is on the road to financial ruin, and not merits of Social Security per se . My conclusion is the only message that will work is that operationally […]

Social Security commentary published

[Skip to the end] Social Security: Another Case of Innocent Fraud? By Mathew Forstater and Warren Mosler August 6th — In his recent book, The Economics of Innocent Fraud, John Kenneth Galbraith surveys a number of false beliefs that are being perpetuated among the American people about how our society operates: innocent (and sometimes not-so-innocent) […]