The first is the supposed systemic risk of inflation and the accompanying concern that public spending could easily overheat the economy.
rubbish. Inflation has not risen to its head in years, not even during the bustling labor market of 2018 and 2019. “Overheating” may not be a problem for high-tech globalized economies whose goods and services can be easily replaced.
Biden’s ambitious plans are worth the small risk, however. If you haven’t noticed, the US economy is becoming more uneven day by day. Bringing it to a boil might be the only way to raise your bottom half wage. The hope is that record low interest rates and massive public spending will generate enough demand that employers will need to raise wages to find the workers they need.
Few Democratic economists who should know better are sounding the alarm about inflation, but Biden is wisely ignoring them. So should the Democrats in Congress.
Another conservative bromide is that the larger national debt crowds out private investment and slows growth. This vision has hampered the Clinton and Obama administrations, as deficit hawks cautioned against public spending not accompanied by tax increases to pay for it. (I still have some old injuries from these hawks.)
Fortunately, Biden isn’t buying this either. […]
Three more articles are worth reading
Learn the covert anti-fascists, by Andy Kroll. An integral part of the team of anti-fascist researchers, activists who infiltrate and expose proud boys, neo-Nazis, militias, and other members of the violent far-right.
The inside story of how the Pentagon prevented efforts to end the Iraq war, by Matthew Beatty
“Lazy”, “money oriented”, “single mother”: How do union busting companies collect employee files, by Lauren Cowrie Gurley. The leaked files from IRI Consultants, a leading union avoidance company hired by Google, show how it collects data on workers’ personality, motivations, and work ethic to break unions.
“I know what it means to be on food vouchers and to put together health care for my daughter and me. I’ve had a lot of experiences that can help my area. Americans are either hungry every day or have no access to health care. Not to mention those homeless,” Or veterans who are not getting the help they need. We need to fight on behalf of all the people in this country. The more people in our office who can handle the things that happen every day to Americans, the better we are. “
~~ Delegate. Debra Haaland Native Americans are taking power (February 2019)
On this date in the Daily Kos in 2018The Environmental Protection Agency, researchers, and Congressman seek to protect truck makers from the ground up to control deadly pollution:
They call them “gliders”. They are large platforms built and sold without engines, transmissions and rear axles. They are then supplied with these items from rescue yards and wrecked trucks, and the engines are completely rebuilt to the core. Reconstructed engines, thanks to a loophole, are not required to meet emissions limits for diesel trucks because they were originally built before 2001. Engines that, according to the EPA, Tossed 43-55 times More emissions than other new large excavators.
About 4 percent of the US truck market currently consists of gliders – about 10,000 vehicles per year – in part as a result of an attempt to evade the diesel emissions base of NOx and PM that came into full force in 2010. Before this rule, emissions were estimated to Nitrogen oxides and particulate matter from large rigs prematurely kill 1,600 people a year due to attacks of cancer and asthma.
Since 2010, according to the Department of Transportation, sales of gliders It rose tenfold From 2010-2015. Using its authority under the Clean Air Act, the Obama administration sought an updated emissions base in 2015 to fill that gap by limiting the 300 number of glider sets sold each year.
But, in November, a month before the rule came into full effect, Scott Brute, chief of the EPA, chief of the EPA, who hated the EPA, relieved three glider makers on the grounds that the agency had no authority to limit From sales this way. A 60-day period opened for public comment on the possibility of the EPA canceling the annual cap on gliders. This comment period has now expired.