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Sanders presidency could start with $300 billion U.S. jobs program: adviser
Reuters ^ | February 27, 2020 | Howard Schneider

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 ...


TOPICS: Business/Economy; Front Page News; Politics/Elections
KEYWORDS: 2020demprimary; bernie; feelthebern; jobs; sanders
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To: karpov

Some a$$holes think that is a good idea. The government does not create jobs. It can issue a lot of money, which deflates its purchasing power. Initially, it looks good, since the public is too stupid to understand that the rising cost of goods is due to the government issuing money from nothing.

The idiots at royters are stupid as a rock.


61 posted on 02/27/2020 12:26:30 PM PST by I want the USA back (We have sunk to a depth where restatement of the obvious is the first duty of intelligent men:Orwell)
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To: karpov

$1,000 from every man woman and child to play for this redistribution


62 posted on 02/27/2020 12:34:37 PM PST by a fool in paradise (Everyone knows Hillary was corrupt, lied, destroyed documents, and influenced witnesses. Rat crime.)
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To: karpov
New Post Bernie Pres National Anthem
With geographic name changes eg. Potomac replaces Volga, New York replaces Moscow.
63 posted on 02/27/2020 1:25:05 PM PST by BigEdLB (BigEdLB, Russian BOT, At your service)
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To: karpov

If Sanders gets elected he’s not going to do anything. All he’s going to care about is lining his pockets like all leftists. He might throw the proletariat a single bone like Obama did with Obamacare, but like Obamacare it’s going to be completely useless. The indoctrinated need to wake up to the fact that Trump is getting things done for the people, and liberals never EVER do anything for the people, ever. All they do is make things worse and line their pockets.


64 posted on 02/27/2020 1:37:28 PM PST by GrandJediMasterYoda (As long as Hillary Clinton remains free equal justice under the law will never exist in the USA)
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To: karpov

Bernie is thinking small. He should start with a $300 TRILLION jobs program in the first year.


65 posted on 02/27/2020 2:08:20 PM PST by Opinionated Blowhard (When the people find that they can vote themselves money, that will herald the end of the republic.)
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To: karpov
A jobs guarantee, which would see the federal government ensure employment for anyone who wanted to work...

 

 

I don't see a thing wrong with this plan.

66 posted on 02/27/2020 3:04:26 PM PST by Elsie (Heck is where people, who don't believe in Gosh, think they are not going...)
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To: karpov

It won’t be 3.6% for long if Bernie gets elected with a DemocRat Congress and starts greatly raising taxes to pay for the “free” goodies.


67 posted on 02/27/2020 3:26:29 PM PST by Blood of Tyrants (A socalist is someone that wants everything you have except your job.)
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To: Remole
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?

Since Al Gore's Global Warming

68 posted on 02/27/2020 4:37:06 PM PST by Fred Nerks (fair dinkum!)
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To: karpov

Lemme guess, we all have to walk to the fields to work in agriculture, everyone with glasses gets shot, and we call it year one?


69 posted on 02/27/2020 4:56:21 PM PST by DesertRhino (Dog is man's best friend, and moslems hate dogs. Add that up. ....)
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To: Buckeye McFrog

So - MMT relies on the fact that everyone is too scared of the repercussions of realizing that the money eventually isn’t worth the ink that was used to print it?

That is pretty scary on its own.


70 posted on 02/27/2020 6:43:11 PM PST by utford
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To: karpov

Oh he77 no! We don’t need no stinking jobs program, damn fool! The jobs problem has been taken care of. Figure out how to straighten out the dysfunctional Democratic states and start with California!


71 posted on 02/27/2020 7:29:20 PM PST by know.your.why
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To: karpov

Well I suppose there’s no problem spending a few hundred trillion dollars can’t solve...


72 posted on 02/27/2020 9:25:01 PM PST by Republican Wildcat
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To: Red Badger

Not actually true outside the major metropolitan area’s.
And too many of those “Jobs” are crap wage part-time “Service” jobs.
Some of us are not suited to paring toe-nails, massaging the obese, UBER driving, or flipping burgers.

In the rural area’s jobs that can support a decent life are still hard to find.
Too many are taken by illegals who depress wages across the area, others are really only suitable for the young and strong.

Add in the current trend of only taking applications on-line, a great way to block those over fifty or so without active age discrimination.

None of which makes Sanders any less of an idiot*.

*My apology for any offense to idiots this observation may cause.


73 posted on 02/27/2020 11:27:01 PM PST by Ex gun maker. (Unconstitutional "Law" is void from inception.....)
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To: karpov
“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,”

Words never uttered by a liberal during the obummer years. Now they're screaming it from the rooftops...

74 posted on 02/28/2020 4:22:42 AM PST by jeffc (The U.S. media are our enemy)
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To: Red Badger
We have more jobs that workers and he wants to create more!................of both!.....

That is GOP propaganda. There are 60 million working age people not working.

75 posted on 02/28/2020 4:25:42 AM PST by central_va (I won't be reconstructed and I do not give a damn.)
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To: marron

Entice a few industries back from overseas = Very high import tariff, which would be a great thing!


76 posted on 02/28/2020 4:27:03 AM PST by central_va (I won't be reconstructed and I do not give a damn.)
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To: karpov

300 Billion to hire more parasites. Just what we need.


77 posted on 02/28/2020 5:20:02 AM PST by unixfox (Abolish Slavery, Repeal the 16th Amendment)
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To: karpov

You can give a lazy hood rat a job, but you can never make him work!


78 posted on 02/28/2020 5:22:43 AM PST by GraceG ("If I post an AWESOME MEME, STEAL IT! JUST RE-POST IT IN TWO PLACES PLEASE")
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To: Red Badger

We’re overemployed.

Fast food counter service often sucks. Anyone can get a job these days if they want one, and another one right away afterwards.

I notice it’s been a while since we’ve read of cops being denied service.

Have a feeling Big Media’s under pressure to stop reporting those incidents.


79 posted on 02/28/2020 5:25:39 AM PST by treetopsandroofs
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To: karpov
A jobs guarantee, which would see the federal government ensure employment for anyone who wanted to work...

What about people who don't want to work? Will they get more than what the Sandersnistas want to pay for federal busywork?

80 posted on 02/28/2020 5:32:50 AM PST by Fresh Wind (The Electoral College is the firewall protecting us from massive blue state vote fraud.)
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