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How to Pay for the Progressive Policy Agenda: COVID-19 Crisis Response, Green New Deal, Medicare for All, and Beyond

How to Pay for the Progressive Policy Agenda: COVID-19 Crisis Response, Green New Deal, Medicare for All, and Beyond

Dear Concerned Citizens, journalists/social media/communications professionals,

You are cordially invited to a webinar on “How to Pay for the Progressive Policy Agenda: COVID-19 Crisis Response, Green New Deal, Medicare for All, and Beyond” hosted by Brand New Congress (BNC) and the Global Institute for Sustainable Prosperity (GISP) on Thursday, March 19, 2020, at 8 pm EDT.

When: Thursday, March 19th, 2020
Time: 8:00 p.m. EST/ 5:00 p.m. PST
Where: Digital Webinar: RSVP here
Host: Global Institute for Sustainable Prosperity, and Brand New Congress

Several Senators and U.S. representatives have already endorsed the Green New Deal and Medicare for all. There are close to 200 candidates running for the US House and Senate who also endorse these policies. They all face the inevitable questions “How are we going to pay for it? Where will the money come from? Who are we going to tax? who are we going to borrow from? Won’t this bankrupt the nation or cause hyperinflation?

The conventional way of framing these questions was completely dismissed by the Federal Reserve Bank when it announced this week that it will inject $1.5 trillion to prop up financial markets as part of its coronavirus-related response to market disruption. Where did that $1.5 trillion come from? it is not tax revenue, and it is not borrowed money.

The conventional wisdom tells us that the progressive policy agenda must be “paid for” via tax revenues or government borrowing (which means eventually higher taxes in the future). In reality, however, the Federal government (unlike states, cities, and municipalities) does not use federal taxes to fund federal programs (we will explain the important roles that Federal taxes play in the economy). In this webinar, you will be introduced to the economic policy framework that explains how the Federal government would pay for such programs without causing inflation, bankrupting the country, or slipping into socialist authoritarianism. We will also explain where the Fed’s coronavirus $1.5 trillion come from.

This framework is called Modern Monetary Theory (or MMT). It has been subject to a lot of unfair criticism by the mainstream of the economics profession to the point that five US Senators introduced a resolution in May 2019 to condemn MMT as dangerous for the country. The purpose of this webinar is to present you with a clear understanding of the MMT approach so you can fairly assess the feasibility and affordability of the progressive agenda and the proper response to a public health crisis like the COVID-19 pandemic.

The webinar is presented by Dr. Fadhel Kaboub, BNC volunteer economist, Professor at Denison University, and President of GISP. He is an expert MMT economist, and one of the leading advocates for the Green New Deal, a Federal Job Guarantee, and Medicare for All.

To sign up for this webinar please RSVP here. If you’re unable to attend the webinar but would like to receive a copy of the video recording to review, please request the video here.

We hope you will join us, and we hope you can also invite your colleagues to sign up as well.
Looking forward to working with you.

Dr. Fadhel Kaboub
Associate Professor of Economics, Denison University
President, Global Institute for Sustainable Prosperity
Granville, OH 43023
740-587-6315 @FadhelKaboub

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