A Bernie Sanders administration might logically start with a roughly $300 billio...
WASHINGTON - A Bernie Sanders administration might logically start with a roughly $300 billion federal jobs guarantee, a cornerstone of worker protection, says a key adviser to the front-runner in the U.S. Democratic presidential nominating race.
Kelton, who has been Sanders’ senior economic adviser since his unsuccessful 2016 presidential bid, emphasized she was speaking on her own behalf about how some of her economic ideas might be implemented, and not for the U.S. senator’s campaign. 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.
Those programs would need to be rolled out more deliberately and designed by teams of experts across federal agencies to match what could be spent in any given year without causing a worrying jump in inflation, she said. It is likely Republicans, who currently control the U.S. Senate, would reject most if not all of any MMT-driven agenda.
“I can tell you exactly how it all adds up. It adds up to four more years of Donald Trump,” Buttigieg said during a Democratic candidates debate on Wednesday. The next state nominating contest takes place on Saturday in South Carolina.In her appearance at the National Association for Business Economics this week, Kelton outlined what would amount to a technocratic revolution if MMT were to inform federal spending.
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