Posted on 02/27/2020 10:54:09 AM PST by karpov
WASHINGTON (Reuters) - A Bernie Sanders presidency could begin modestly with a roughly $300 billion federal jobs guarantee before pushing for trillions of dollars in new spending on health care, the environment and infrastructure, says a key adviser to the U.S. Democratic front-runner.
Sanders, a U.S. senator from Vermont and self-described democratic socialist, has promised a sweeping transformation of the U.S. economy if he wrests the keys to the White House from President Donald Trump in the November 2020 election.
A jobs guarantee, which would see the federal government ensure employment for anyone who wanted to work, would be a logical first step for the would-be president, said Stephanie Kelton, who has been Sanders’ senior economic adviser since his unsuccessful 2016 presidential campaign.
“I like very much the idea of getting a safeguard in place right away because, like most people, I worry about what happens when the next downturn comes,” Kelton, an economics professor at Stony Brook University in New York state, said to journalists this week on the sidelines of a National Association for Business Economics meeting.
Kelton estimates the jobs guarantee would increase the federal deficit by about 1.5% of gross domestic product while ensuring the elusive goal of full employment. The U.S. deficit currently stands at 4.5% of GDP.
Such a proposal is not a novel idea in U.S. history or even the current presidential race. Government employment programs were used to ease the sting of the Great Depression, and have been more recently proposed by Democratic presidential candidates including Senator Elizabeth Warren.
But Sanders has made it a centerpiece of his agenda.
It would, Kelton said, form an ultimate economic backstop that ensured full employment even in a recession and expanded federal spending just as private sector incomes ebbed.
(Excerpt) Read more at reuters.com ...
You forget, key plank in his economic plan is to destroy most of the US economy, forcing tens of millions out of jobs . . . . . .
Castro-Sanders is nothing more than a Commie falsely promising the moon to the LIVs, particularly minorities
I guess my real concern is what happens when a large part of the world starts to question the value after so much is printed. At some point, it either greatly decreases in value or attempts are made to enforce that value in other ways.
“’It would,’ Kelton said, ‘form an ultimate economic backstop that ensured full employment even in a recession and expanded federal spending just as private sector incomes ebbed.’”
I have a grammar question. When did it happen that the English language now uses the simple past (”ensured” . . . “expanded”) to refer to something in the conditional future?
Are they putting infants to work?
Study finds that the Green New Deal could cost American households over $75,000 just in the first year alone, and more than $50,000 a year after that-
https://cei.org/content/what-green-new-deal-could-cost-typical-household-0
Smart move, Bernie, just when the economy is the best it's been in two decades. Somehow, I just don't think that a guy who got his first full time job at age 53, has authored 364 bills since going to Washington, and has had only 3 pass...and two of those were to name Vermont post offices...that background doesn't fill me with confidence on his problem-solving or creative abilities.
There, fixed it.
Why? We have full employment for anyone who wants to work and will work now.
A feral gooberment jobs program can only be a gibs me dat program for those who want a hand out.
Reuters? Meh.
‘Because formerly illegal immigrants streaming over the border by the millions will need something to do.’
And more and more and more and more will stream over for a piece of the pie, and vote for the Bernie kind of politicians!
Almost as many killed by guns according to Biden.
Commie Sanders will never make it to the WH; the Deep State will see to that.
IF we get a cold, they get stage four cancer.
If we fall into a mine shaft, they get sucked into a black hole.
As bad as the repercussions would be for us, they’d be far worse for all the rest of the world. Because our economy drives all of the others.
They’ll continue to believe it because they literally can’t face the alternative.
This is a worse deal than the Green New Deal being pushed by Sanders and AO-C.
It has a provision in it that provides for "a living wage for those who chose NOT to work".
>>> Stephanie Kelton, who has been Sanders’ senior economic adviser <<<
I wouldn’t trust her with Monopoly money.
Arbeit macht frei !.............................
“A Bernie Sanders presidency could begin modestly with a roughly $300 billion federal jobs guarantee before pushing for trillions of dollars in new spending on health care, the environment and infrastructure, says a key adviser to the U.S. Democratic front-runner. “
why? so “free” federal sitting-around-doing-nothing “jobs” can siphon workers from the full-employment economy?
Like those “shovel ready” jobs 0bama was yakking about?
As if federal spending wasn't drawn from private sector incomes (along with way too much danged borrowing).
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