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 ...
oh look another shovel ready debacle.
Reuters...
Stopped right there, I value my brain cells rather than eat crap daily
Simple
consider the source, if it is MSM it is propaganda
Period
Great post Karpov, stand and be counted!
We have more jobs that workers and he wants to create more!................of both!.....
Amazing how they’re “guaranteeing” jobs now that employment/workforce participation rate are still going up.
$300 BILLION worth of GOVERNMENT JOBS...
WOW, it’s enough to make your mouth water...or your eyes.
geezz.
That’s about $1k per person. Good for starters.
Open borders policy to create more voters................
“....Sanders did not hold a steady job until he was elected mayor at age 39. What does he know about work....”
Again can we all applaud the voters of Vermont for showing such deep insight in what voting in a free society actually means by enabling this clown for — how many years? 30+!
For think that someone who never ever had a job or wanted one would make a good mayor, the congressman, then senator!
Way to go Vermont!
The problem is Bernie supporters don’t want jobs, they make you work. They’d rather have Bernie just divvy up the $300,000,000,000 between them all.
“We pretend to work and they pretend to pay us”
He knows about govt jobs, comrade.
Imagine the stacking of govt jobs this communist will do with $300 billion tax dollars?
If the unemployment rate was nearer to 12-percent, this might have some minor merit. But if you use unemployment data out of Huntsville Alabama....it’s 2.1 percent unemployment. What idiot would go and pump even more money into the economy at this point?
Not unless Congress approves it.
And in what universe is a $300 billion jobs boondoggle “modest??”
Entice a few industries back from overseas, tighten up the border, and you don’t need federal jobs programs or minimum wage laws either one.
“Whey spend $300 billion on a federal jobs guarantee when the unemployment rate is 3.6%?”
Because formerly illegal immigrants streaming over the border by the millions will need something to do.
Another idea from the fertile mind of BOHICA Bernie the Blabbering Bolshie.
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