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Sanders presidency could start with $300 billion U.S. jobs program: adviser
Reuters ^ | February 27, 2020 | Howard Schneider

Posted on 02/27/2020 10:54:09 AM PST by karpov

WASHINGTON (Reuters) - A Bernie Sanders presidency could begin modestly with a roughly $300 billion federal jobs guarantee before pushing for trillions of dollars in new spending on health care, the environment and infrastructure, says a key adviser to the U.S. Democratic front-runner.

Sanders, a U.S. senator from Vermont and self-described democratic socialist, has promised a sweeping transformation of the U.S. economy if he wrests the keys to the White House from President Donald Trump in the November 2020 election.

A jobs guarantee, which would see the federal government ensure employment for anyone who wanted to work, would be a logical first step for the would-be president, said Stephanie Kelton, who has been Sanders’ senior economic adviser since his unsuccessful 2016 presidential campaign.

“I like very much the idea of getting a safeguard in place right away because, like most people, I worry about what happens when the next downturn comes,” Kelton, an economics professor at Stony Brook University in New York state, said to journalists this week on the sidelines of a National Association for Business Economics meeting.

Kelton estimates the jobs guarantee would increase the federal deficit by about 1.5% of gross domestic product while ensuring the elusive goal of full employment. The U.S. deficit currently stands at 4.5% of GDP.

Such a proposal is not a novel idea in U.S. history or even the current presidential race. Government employment programs were used to ease the sting of the Great Depression, and have been more recently proposed by Democratic presidential candidates including Senator Elizabeth Warren.

But Sanders has made it a centerpiece of his agenda.

It would, Kelton said, form an ultimate economic backstop that ensured full employment even in a recession and expanded federal spending just as private sector incomes ebbed.

(Excerpt) Read more at reuters.com ...


TOPICS: Business/Economy; Front Page News; Politics/Elections
KEYWORDS: 2020demprimary; bernie; feelthebern; jobs; sanders
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Whey spend $300 billion on a federal jobs guarantee when the unemployment rate is 3.6%? Sanders did not hold a steady job until he was elected mayor at age 39. What does he know about work?
1 posted on 02/27/2020 10:54:09 AM PST by karpov
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To: karpov

oh look another shovel ready debacle.


2 posted on 02/27/2020 10:55:53 AM PST by Nuke From Orbit
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To: karpov

Reuters...

Stopped right there, I value my brain cells rather than eat crap daily

Simple

consider the source, if it is MSM it is propaganda

Period

Great post Karpov, stand and be counted!


3 posted on 02/27/2020 10:56:21 AM PST by 100American (Knowledge is knowing how, Wisdom is knowing when)
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To: karpov

We have more jobs that workers and he wants to create more!................of both!.....


4 posted on 02/27/2020 10:56:42 AM PST by Red Badger (If people were to God like dogs are to people, the world would be a really great place..............)
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To: karpov

Amazing how they’re “guaranteeing” jobs now that employment/workforce participation rate are still going up.


5 posted on 02/27/2020 10:57:03 AM PST by wastedyears (The left would kill every single one of us and our families if they knew they could get away with it)
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To: karpov

$300 BILLION worth of GOVERNMENT JOBS...

WOW, it’s enough to make your mouth water...or your eyes.

geezz.


6 posted on 02/27/2020 10:57:09 AM PST by Maris Crane
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To: Nuke From Orbit

That’s about $1k per person. Good for starters.


7 posted on 02/27/2020 10:57:19 AM PST by DIRTYSECRET (urope. Why do they put up with this.)
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To: Nuke From Orbit; karpov

Open borders policy to create more voters................


8 posted on 02/27/2020 10:57:36 AM PST by Red Badger (If people were to God like dogs are to people, the world would be a really great place..............)
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To: karpov

“....Sanders did not hold a steady job until he was elected mayor at age 39. What does he know about work....”

Again can we all applaud the voters of Vermont for showing such deep insight in what voting in a free society actually means by enabling this clown for — how many years? 30+!
For think that someone who never ever had a job or wanted one would make a good mayor, the congressman, then senator!

Way to go Vermont!


9 posted on 02/27/2020 10:57:47 AM PST by Reily
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To: karpov

The problem is Bernie supporters don’t want jobs, they make you work. They’d rather have Bernie just divvy up the $300,000,000,000 between them all.


10 posted on 02/27/2020 10:57:57 AM PST by pepsi_junkie (Often wrong, but never in doubt!)
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To: karpov

“We pretend to work and they pretend to pay us”


11 posted on 02/27/2020 10:58:42 AM PST by headstamp 2 (There's a stairway to heaven, but there's also a highway to hell.)
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To: karpov

He knows about govt jobs, comrade.

Imagine the stacking of govt jobs this communist will do with $300 billion tax dollars?


12 posted on 02/27/2020 10:58:55 AM PST by silverleaf (Remember kids: You can vote your way into communism, but you have to shoot your way out!)
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Comment #13 Removed by Moderator

To: DIRTYSECRET

14 posted on 02/27/2020 10:59:21 AM PST by Red Badger (If people were to God like dogs are to people, the world would be a really great place..............)
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To: karpov

If the unemployment rate was nearer to 12-percent, this might have some minor merit. But if you use unemployment data out of Huntsville Alabama....it’s 2.1 percent unemployment. What idiot would go and pump even more money into the economy at this point?


15 posted on 02/27/2020 10:59:39 AM PST by pepsionice
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To: karpov

Not unless Congress approves it.


16 posted on 02/27/2020 11:01:58 AM PST by cymbeline
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To: karpov

And in what universe is a $300 billion jobs boondoggle “modest??”


17 posted on 02/27/2020 11:03:38 AM PST by Menehune56 ("Let them hate so long as they fear" (Oderint Dum Metuant), Lucius Accius (170 BC - 86 BC))
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To: karpov

Entice a few industries back from overseas, tighten up the border, and you don’t need federal jobs programs or minimum wage laws either one.


18 posted on 02/27/2020 11:03:53 AM PST by marron
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To: karpov

“Whey spend $300 billion on a federal jobs guarantee when the unemployment rate is 3.6%?”

Because formerly illegal immigrants streaming over the border by the millions will need something to do.


19 posted on 02/27/2020 11:03:55 AM PST by beef (Caution: Potential Sarcasm - Process Accordingly)
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To: karpov

Another idea from the fertile mind of BOHICA Bernie the Blabbering Bolshie.


20 posted on 02/27/2020 11:05:18 AM PST by Army Air Corps (Four Fried Chickens and a Coke)
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