Ending austerity’s reign of error
Everyday Americans are told that deficits are bad and that it is imperative that we eliminate the deficit. They are told this by their politicians, their news media, most of their economists, and their academics.
Deficit fear mongers are like the medieval doctors who thought that bleeding a patient would let out impurities and make them better. Bleeding the economy by reducing the federal deficit has only made things worse. The 1998-2001 budget surplus was the longest surplus since the 1927-1930 surplus. It is not a coincidence that our two worst economic collapses came in the aftermath of budget surpluses. Adding funds to the federal government takes funds out of the economy; federal deficits put money into the economy. Deficit spending is a good thing in a country with a sovereign currency.
We need REAL fiscal responsibility
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 harm America. They sell it short. They damage future generations. They must be eliminated as a factor in politics once and for all if we are to progress as a nation.
So how do we do this? How do we expose the fallacies of deficit fear mongers and educate the public about fiat currencies? We need a venue. We need a talk show where we can pound away at the lies of austerity.
That is why three of us, Joe Firestone, Lambert Strether, and myself, have come together for launching an economics talk show, Real Fiscal Responsibility Today. This project is for everyone who shares our dismay at the economic distress our country is undergoing and the unnecessary suffering of so many of our fellow citizens. This project is for everyone who is tired of hearing economic commentary from those who got everything wrong.
But we need your help; we can’t do this alone. So we have turned to indiegogo to raise money sufficient to produce six pilot shows that we can use to market our show.
Please look at the Real Fiscal Responsibility Today page. Please share widely, and donate what you can. Check out the perks, we have some nice ones.