Bill Black and Stephanie Kelton: Is it Time for a New Deal Federal Jobs Program?
Posted on July 6, 2016 by Yves Smith
Yves here. On Real News Network, Bill Black and Stephanie Kelton discuss why we need more direct federal job creation, particularly for infrastructure. Whenever we mention “jobs programs,” there is a knee-jerk tendency among the commentariat to treat them as insulting make-work, when the last effort at creating mass employment was anything but. As Marshall
Bold face is mine. There is no knee jerk reaction, there is simply the acceptance that all the infrastructure money will be diverted to stuff pensions. The authors know that. They must have read about Chicago schools. C hicago has to make a half billion dollar pension payment within a month or shut down. Is Chicago going to build bridges? No, they are going to make the pension payment first, no infrastructure.
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