Response To The Powell Memo: A Progressive Blueprint — Part 6

What follows is Part 6, the final installment of a direct rebuttal to the original Powell Memo, frequently using Powell’s own words, which instead offers a progressive plan to take back the country from the ravages the corporate oligarchy has committed on the American people and restore the freedoms and protections to which we are entitled. Read Part 1, Part 2, Part 3, Part 4, and Part 5.

The Federal Government is like Chuck E. Cheese: MMT as Analogy

Chuck E. Cheese is a great analogy for the fiscal policy of the federal government because they are both “currency” issuers. The reason why this is all so important to understand is that MMT has far ranging implications for the progressive movement not just nationally but globally.

If You Can Deliberately Restrain Federal Spending, You Can Deliberately Expand It

Anti-austerity is a word, of which, culturally and socially speaking, perhaps the Spartans wouldn’t have approved of. We can accept that. It was a Laconian thing. We wouldn’t understand anyway.

MMT is Relevant to Everyday Life

Things become the orthodoxy because at some point - something was elevated to eradicate a prior understanding. In our present day, we suffer from monetarism, Neoliberalism, and fears based on non-existent systems that prevent us from demanding more from our representatives and fighting for our existence with knowledge and confidence.

Key Points to Understand Regarding Macroeconomic Reality

The concept that the US government has no money of its own by design and must tax and borrow to fund its spending is an imaginary concept.

Who's Afraid of MMT?

If you turn it the right way, the thing that will kill us is the very same thing that can save us.