Democrats in charge: deficits come down, but Republicans scream about out of control spending.
Republican in charge: budget deficit explodes, Republicans now remarkably complaisant.
Lather. Rinse. Repeat.
Democrats (Progressives) need to understand and embrace MMT:
quote:Modern Monetary Theory or Modern Money Theory (MMT) is a heterodox macroeconomic theory that describes currency as a public monopoly for the government and unemployment as evidence that a currency monopolist is overly restricting the supply of the financial assets needed to pay taxes and satisfy savings desires. MMT is seen as an evolution of chartalism and is sometimes referred to as neo-chartalism.
MMT advocates argue that the government should use fiscal policy to achieve full employment, creating new money to fund government purchases. According to advocates, the primary risk once the economy reaches full employment is inflation, which can be addressed by raising taxes and issuing bonds to remove excess money from the system. MMT is controversial, with active debate about its policy effectiveness and risks. Its macroeconomic policy prescriptions have been described as being a version of Abba Lerner's theory of functional finance.
MMT states that a government that issues its own money:
Can pay for goods, services, and financial assets without a need to collect money in the form of taxes or debt issuance in advance of such purchases;
Cannot be forced to default on debt denominated in its own currency;
Is limited in its money creation and purchases by inflation, which accelerates once the real resources (labor, capital and natural resources) of the economy are utilized at full employment;
Can control demand-pull inflation by taxation and bond issuance, which remove excess money from circulation, although the political will to do so may not always exist;
Does not need to compete with the private sector for scarce savings by issuing bonds.
These tenets challenge the mainstream economics view that government spending should be funded pre-emptively by taxes and debt issuance.
From what I heard, Trump was going on like that for about 45 minutes. Kind of a stream of quasi-consciousness narrative.
Our Wed night dance classes are in a bowling alley bar (good size dance floor, been a staple dance community venue for decades). They usually have FOX News on the TV. Last night, even they had a report about mental instability, though I don't know what their take on it was.
Also, Rep Underwood has joined her voice supporting impeachment inquiries, but with a difference. Most support impeachment proceedings based on Volume 2 of the Mueller Report which describes multiple acts of obstruction by Trump and his administration. Her decision is based on Volume 1 which describes Russian meddling and the Trump campaigns collusion with them in which the campaign actively sought out help from a hostile foreign government (Russia) and are doing so even now.
quote:President Donald Trump bragged that he got an overwhelming welcome from Ohio and Texas when he went to visit survivors of the mass shootings before his latest vacation. Now, however, El Paso’s University Medical Center is being forced to dispute the president’s account of events.
“Not only did they meet with me, they were pouring out of the room. The doctors were coming out of the operating rooms. There were hundreds and hundreds of people all over the floor. You couldn’t even walk on it. So, you know, there’s a lot to happen,” Trump told reporters on the White House lawn Wednesday.
“At no time did, or would, physicians or staff leave active operating rooms during the presidential visit. Our priority is always patient care,” UMC spokesman Ryan Mielke told ABC-7.
quote:“Not only did they meet with me, they were pouring out of the room. The doctors were coming out of the operating rooms. There were hundreds and hundreds of people all over the floor. You couldn’t even walk on it. So, you know, there’s a lot to happen,” Trump told reporters on the White House lawn Wednesday.
It's a self-evident lie about doctors coming out of operating rooms - operating rooms are not near patient rooms, so Trump would have no way of knowing where any doctors who happened to be there came from.
By constantly quoting Trump lies the media acts as an extension of his administration's propaganda arm. Instead of having articles with headlines like, "Trump reverses stance on background checks," they should instead say things like, "Trump announces yet another doubtful policy reversal." Traditionally such headlines are reserved for op-ed pieces, but the media has to start adopting a "fool me once, shame on you, fool me a hundred times, shame on me" attitude. They can't just keep running articles that largely just quote what Trump says when most of it either isn't true or will be changed within a day or two.
Headline's fine, but it's a reaction piece, not the original news report whose headline should have been, "Trump exaggerates crowd size again." It shouldn't have taken the hospital issuing a statement for the media to report the absurdity and sheer tedium of how often he does just this one thing, and then there's the many other repetitive lies he tells.
His specialty is stirring up doubt and unbelief (in the system and in official answers)in his base. Perhaps he does not have bad motives, but it is clear that he never agrees with the establishment...perhaps because it is largely liberal and educate.
Chance as a real force is a myth. It has no basis in reality and no place in scientific inquiry. For science and philosophy to continue to advance in knowledge, chance must be demythologized once and for all. ~RC Sproul "A lie can travel half way around the world while the truth is putting on its shoes." ~Mark Twain " ~"If that's not sufficient for you go soak your head."~Faith
You can "get answers" by watching the ducks. That doesn't mean the answers are coming from them.~Ringo
Subjectivism may very well undermine Christianity. In the same way that "allowing people to choose what they want to be when they grow up" undermines communism.~Stile
A lot of Trump's criticisms against China are accurate. They have been in engaged in corporate espionage since the early 90's. I don't think they have a single original idea for anything... they just steal anything they can get their hands on, reverse engineer it, and figure out a way to make a cheaper, shittier version. And of course it is true that their human rights are appalling. I'm not saying China is a beacon for freedom or that they shouldn't be called out on their malfeasance.
That said, this little pissing contest is a zero sum game. Like it or not, China is our number 1 trading partner and its a losing hand to try to push them around with tariffs when we import from them far more than we export to them. He is hurting these companies and the consumers are paying for it. Secondly, he "orders" American CEO's to stop trading with China? If Trump could, he be dictator of the world. He lords over everyone. Look how many people have either resigned from his administration because they can't work someone this unstable or that he's fired because they dared to speak in a way that challenges his ego. He doesn't really like this job because its tedious. He's made it quite clear. It just appeals to his unquenchable thirst for power.