https://twitter.com/sahilkapur/status/1348031632666718210
Trillion dollar check straight to wall street ceos and chairpeople.
You could put a middle schooler in charge of the PR department and they would tell you to mention the working class if you're gonna help them. It would be a no brainier slam dunk because those people would like you more and vote for you. A lot of money for "the economy" would be exactly in line for the guy who said nothing will fundamentally change and Americans aren't looking for a hand out. Giving disgusting checks to the donors (who are also disgusting) is fundamental to government as usual
Certainly possible, even given the content of the article.
He said it will include emergency relief for those harmed by the pandemic as well as investments in infrastructure, health care and "a whole range of things that are going to generate good-paying jobs."
The comments indicate that he and his party will be less inclined than they were during the Obama administration to acquiesce to Republican demands to limit new spending because of the national debt.
The president-elect suggested he believes the $900 billion pandemic relief package passed by Congress last month would not be enough. His remarks were well-received by progressives who have been skeptical of his moderate and deficit-conscious instincts.
Sen. Bernie Sanders, I-Vt., the runner-up in the 2020 Democratic primary and likely incoming chairman of the Senate Budget Committee, praised Biden's comments in a Saturday interview.
"The president-elect is exactly right that this is not the time for austerity politics," Sanders told NBC News. "We cannot maintain the austerity economics that have allowed the very rich to do phenomenally in this country while working people suffer."
Sanders is poised to oversee the budget reconciliation process, which is not subject to a filibuster. Democrats, who will seize control in the 50-50 Senate with the tie-breaking vote of Vice President-elect Kamala Harris, will be able to approve policies of taxing and spending with a bare majority of votes.
On the other hand, were any of us expecting bernie to get such a high position? I think it’s ok to be optimistic about this. It never made sense why he dropped out so soon, maybe this was part of the agreement. No harm in paying attention I guess
I don't think that's a position the democratic party is giving him. I believe he gets it automatically because he has seniority in the budget committee, and the democrats are now the majority party, but I could be wrong.
I see what you’re saying. I don’t get how any of this works tbh, considering bernies only been a senator since 2007 and there’s other people who have been senators longer than him on the team. At the very least, it isn’t a bad thing that he is where he is. I’ll stop short of going full bernie_3dChess_fanfic.txt, but we’ll see.
The senate is a seniority system. Bernie has been the top Democrat on the budget committee for six years. If Dems had won the Senate for any of the past three cycles he would have had this position then.
I'll believe it when I see it. I can't let myself have an even an ounce of faith in this guy tbh
lol He said "economy" not the "middle class" or "working class" or anything the reference the actual people. This will be a fuck ass load of dollars thrown at wallstreet and we will get nothing. It'll actually make our situation worse because the more the print fake money the more it devalues the dollars we earn.
20% inflation, 10% bump in minimum wage, 30% bump in housing costs
Honestly, looking at the markets - they won’t till 2022. Right now stopping gravy train will cause implosion of all sectors of economy. Now, whether that money will get in the hands of americans and then billionaires or directly to billionaires hands is the question. Have a little hope at least, as a treat.
Lol like austerity politics in the imperial core will ever touch central bank interest rates.
But interest rates are more connected to average business profitability, at least in some fashion, so yeah they here to stay indefinitely, at least I would be extremely surprised at rates higher than 3 percent. I mean general help with solvency issues for banks, debt buyout and (hopefully for comrades in usa) more helicopter money.
(hopefully for comrades in usa) more helicopter money
huh?
anyways the point is that there's a shitton of austerity politics they can do here w/o tanking the financiers. they've been doing that shit for 40 years non-stop
I mean expansion of programs like 2k checks for people or debt relief. Helicopter money is a Bernanke term, when he proposed something similar in obama years, throw money from helicopter to people.
Re: austerity - its politically unfeasible right now, to implode stock market as you start your term, but who knows, maybe they are that ideological
Gotcha. Yeah I'll be shocked if they do that.
I replied to your comment in the first place to make the point that they can do austerity w/o imploding markets here (as opposed to like Greece & Spain in 08), because the capital interests pressuring for austerity are domestic instead of colonial.
Oh yeah, they can cut or privatize pension system simultaneously, but that’s even more fuel for stock market. Who knows I’m just a cranky guy looking sometimes at Kondratiev waves lel, which should hit around 2022-2030. But outside of hyperinflation and dollar collapse, business implosion through debt (which they seem to avoid by printer) or war I don’t see a reason for it, so I’m kinda wondering what will happen. Edit: There is also deflationary spiral danger despite money printing, if the economy reaches saturation (a la japan), but that seems even more unlikely, considering usa position.
I think DC could be admitted by simple majority, creating 2 blue seats and ramming this whole thing up Joe Manchins ass.
Please make me eat my words I sincerely desire to be fucking owned here
I'd much rather be proven wrong in this case than for people to needlessly suffer.
Definitely possible, but from his statement it sounded like he was talking about infrastructure spending and healthcare (high speed rail? 🚄)
one of the 5 things he's not actively bad on. Not nearly redeemable, but it's a thing.
YOU KNOW WHO ELSE LOVED TRAINS?!?!?
THATS RIGHT... LENIN! JOE BIDEN IS A COMMUNIST AGENT CONFIRMED
Probably the only reason they're saying this is that they know the only shot at passing any legislation is through budget reconciliation, and even then they've got Joe the deficit truncheon Manchin as a backstop.
When the inevitable crash happens, they really have no other choice but to embrace MMT, as Ray Dalio talks about here, since they can't really lower interest rates further as a means of stimulating the economy.
this is interesting since it seemed the dems were already starting to manufacture consent around the national debt being too high to justify increased spending, like schumer (I think) retweeting the national debt the night of the insurrection
:bean-think:
This will probably do absolutely nothing but it's going to be amusing watching the right wing have a brain hemorrhage that Sanders is in charge of anything with the word "budget" in it.
They're just going to put him there, do austerity anyways, and spend the next 4 years blaming everything going to shit on Bernie and his socialism.
lol no one was talking about deficits when they extended UE & gave people those scraps they called handouts while transferring another $1 tril of public wealth to the petit & national/global bourgeosie
the entire reason biden brings it up is so that it can be the sticking point later.
