Public Purpose Spending
The Federal Government is a currency issuer and CAN spend for the public good. Check out our library of resources help you learn more about why.
Video / Audio: Public Purpose Spending
MMT Step by Step
Steve Grumbine explains the basics of Modern Monetary Theory (MMT) and the important role MMT plays in securing a progressive agenda. He explains how a nation with its own currency operates. MMT is currency analysis and how it works now.
It’s always a treat to welcome L. Randall Wray, one of our favorite economists and guests, to Macro n Cheese. This episode is an added treat because, in a bit of a departure, Randy talks to Steve about politics and policy, looking through the lens of MMT while putting today’s issues in a historical context.
Time to Recognize Austerity is a Weapon of Mass Destruction
Why do we not recognize economic violence? Unnecessary suffering, as well the increase in social ills, are the repercussions of Austerity Politics. All are preventable! We need to balance our economy, not the federal budget.
Written Materials: Public Purpose Spending
Check out these related articles from our local community and beyond.
Academic Publications: Public Purpose Spending
A collection of peer-reviewed white papers and working papers from our friends in the MMT academic community.
Globally, public banks have been found to be safer and more productive to economies than private banks. They lend counter-cyclically, providing credit when and where other banks won’t. This does not crowd out private banks. Witness Germany and Taiwan, which have strong public banking sectors, yet they are among the most competitive banking markets in the world.
Public money used to contain the crisis in 2009 amounted to about $23 trillion already. To save US and EU banks alone, their governments used $14 trillion, which could have funded 20 years worth of ELR programs in these economies. At the end of the day, an ELR will always be cheaper than a lender of last resort program; and we think it is at least just as important.
Coronavirus Aid, Relief, and Economic Security Act or the CARES Act This bill responds to the COVID-19 (i.e., coronavirus disease 2019) outbreak and its impact on the economy, public health, state and local governments, individuals, and businesses.
To direct the Secretary of the Treasury to establish the Boost Communities Program to provide monthly payments to America’s consumers during the COVID–19 emergency to recover from the emergency, and for other purposes.
This bill provides additional funding to the U.S. Postal Service (USPS) in response to the COVID-19 (i.e., coronavirus disease 2019) pandemic. Specifically, the bill appropriates $25 billion to the USPS for its Postal Service Fund for revenue forgone due to COVID-19 and $15 billion for its Office of Inspector General. The bill requires the USPS, during the pandemic, to prioritize the purchase of, and make available to all USPS employees and facilities, personal protective equipment and to conduct additional cleaning and sanitizing of USPS facilities and delivery vehicles.
Policy Resources: Public Purpose Spending
Links to progressive bills and proposals currently making their way through the United States Congress
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