The Real Fiscal Responsibility Talk Show Pilot Project by Joe Firestone


New Economic Perspectives has the article The Real Fiscal Responsibility Talk Show Pilot Project by Joe Firestone

The instant gratification gem of the article is the posting of the interview with Stephanie Kelton.


The interview gives a simple explanation of the following statements in the article by Joe Firestone:

Once people understand the expanded policy space implications of fiat currency systems they will know that any budget cuts or tax increases or rejections of new legislation on solvency or financial scarcity grounds alone are unjustified. And they will know that all the troubles caused by refusals to pass full employment, Medicare for All, new energy foundations, educational reform, infrastructure reinvention, extensions of the social safety net, and other highly desirable fiscal policies create gratuitous and cruel individual and societal hardships for most of us. All proposals to cut entitlements and the social safety net on grounds of cost or so-called future liabilities are equally unjustified, and certain to cause entirely unnecessary suffering.

These spending cuts on purely deficit reduction grounds harm America. They sell it short. They damage future generations. They prevent us from seriously considering new and innovative policy proposals which address a number of our problems simultaneously such as this one, and in so doing hurt our ability to adapt to change and challenge. They must be eliminated as a factor in politics once and for all if we are to progress as a nation.


One of the things that has to happen is that the MMT idea gets repeated as often (more often) as the false economic doctrine of balanced budgets and austerity. Stephanie Kelton and her fellow MMTers have to keep it up, and the rest of us have to multiply their voices.

Making that happen is what the article is really about. As Joe Firestone explains:

Our goal for this pilot project is to raise $30,000 to create the six programs. Please help us to meet this goal at our indiegogo site. If we can do it, and then get the program picked up, our voice may be the decisive one in defeating the austerians and their policies, and in opening the way to create the America of economic opportunity and social justice we all long for.

Helping to fund this project may be one of the best ways you can spend your money to try to turn this country around. Once we get the economy moving in the direction of working for everyone, this will diminish the problem of excess income inequality which in turn will lead to a better functioning economy for everyone – a positive feedback loop if you will.

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