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View Diary: A 2014 Progressive Campaign Proposal: 10 Million Jobs (23 comments)

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  •  The Back to Work Budget seems fairly specific (1+ / 0-)
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    unfangus

    Remember, that plan is already designed to create 7 million jobs in the first year.

    So it provides a fairly clear blueprint for a Progressive plan that instead creates 10 million jobs.

    I don't think it would be that much harder to find funding for an additional 3 million jobs. After all, the Back to Work Budget already has a built in plan to reduce spending after full employment is achieved.

    Targeting a sustainable debt level. After increasing near-term borrowing to restore full employment, the budget gradually reduces the debt ratio to a fully sustainable 68.7 percent of GDP by FY2023. Relative to CBO’s AFS, the budget would reduce public debt by $4.4 trillion (equal to 16.9 percent of GDP). Relative to current law, the budget would reduce public debt by $2.1 trillion (8.3 percent of GDP).

    "In a country well governed, poverty is something to be ashamed of. In a country badly governed, wealth is something to be ashamed of.” -Confucius

    by pierre9045 on Thu Jan 16, 2014 at 08:38:13 AM PST

    [ Parent ]

    •  Besides, the "unsustainable" meme is wacko. (2+ / 0-)
      Recommended by:
      pierre9045, unfangus

      The US creates dollars out of thin air.  It can sustain any size deficit = dollars in the private sector, it wants to.

      •  katiec - not without consequences (0+ / 0-)

        As the world's reserve currency, the growth of money supply has a world wide economic impact. It also impacts interest rates, inflation levels and numerous other economic metrics.

        "let's talk about that"

        by VClib on Thu Jan 16, 2014 at 10:09:55 AM PST

        [ Parent ]

        •  Sure. But that has to do with those specific (0+ / 0-)

          impacts.

          Not sustainability per se.

          Or, if so, please describe the link between sustainability and any of the impacts you named, or can think of.

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