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StephanieKelton's profile
Stephanie Kelton
Stephanie Kelton
Stephanie Kelton
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@StephanieKelton

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Stephanie KeltonVerified account

@StephanieKelton

Prof. of Economics & Public Policy @stonybrooku. Was Chief Economist for the Dems on U.S. Senate Budget Committee. Contributor @bopinion

moving target
stephaniekelton.com
Joined July 2011

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    Stephanie Kelton‏Verified account @StephanieKelton Jan 3

    #PayGo in simple terms: Means the government must demonstrate that it will *subtract* a 💵 from the economy for every 💵 it intends to *add*. Why on 🌎 would we want a rule to prohibit *net* 💵 contributions to the economy?

    5:35 am - 3 Jan 2019
    • 459 Retweets
    • 957 Likes
    • Our Revolution Georgia Mrstrang3 David James Kelley (#MMT-trainee) Robin💜💜 imkwazy 🌈🍸🌹 Linda Milton Menjivar ❄️🎄KriMuhEPs🎄❄️ Tammy Smith
    41 replies . 459 retweets 957 likes
      1. New conversation
      2. Stephanie Kelton‏Verified account @StephanieKelton Jan 3

        Without #PAYGO, Congress is free to put more 💵 into the economy than it subtracts away. That money could rebuild infrastructure, fund cancer research, etc. We call it “deficit spending,” which is unfortunate. B/c it all becomes part of the financial surplus *outside* government.

        12 replies . 187 retweets 446 likes
        Show this thread
      3. Stephanie Kelton‏Verified account @StephanieKelton Jan 3

        The relevant questions are: (1) Why is that 💵 being spent—i.e. does the spending improve the human condition? & (2) Who ends up with the 💵 surplus—i.e. are you exacerbating or reversing inequality? All deficits improve *someone’s* balance sheet. Ask why and for whom.

        14 replies . 131 retweets 322 likes
        Show this thread
      4. End of conversation
      1. New conversation
      2. Geoff Ginter‏ @geoff_ginter Jan 3
        Replying to @StephanieKelton

        You never cease to impress me with how easily you condense immeasurably important (and complex) issues into easily digestible, tastes nuggets. Thank you for your sacrifices on our behalf. They are not unnoticed. Or unappreciated. #MMT #NoGoOnPayGo

        1 reply . 4 retweets 45 likes
      3. Stephanie Kelton‏Verified account @StephanieKelton Jan 3
        Replying to @geoff_ginter

        🙏🏼

        0 replies . 0 retweets 13 likes
      4. End of conversation
      1. New conversation
      2. Caileen Crecco‏ @CaileenCrecco Jan 3
        Replying to @StephanieKelton @scootey

        My understanding is that this version (which was passed before without this level of hand-wringing) allows for taxes to be raised as an option to pay for programs, unlike the GOP version which mandates only cuts. Am I wrong? (Sincerely asking)

        5 replies . 2 retweets 3 likes
      3. The Resistance‏ @TaritaC Jan 3
        Replying to @CaileenCrecco @StephanieKelton @scootey

        You are correct. These people are driving themselves into a hysteria for absolutely no reason.

        4 replies . 1 retweet 4 likes
      4. Keith Werner‏ @KeithInModesto Jan 3
        Replying to @TaritaC @CaileenCrecco and

        There is a reason: they fear establishment Dems will use #PayGo as an excuse not to implement #Medicare4All.

        2 replies . 3 retweets 18 likes
      5. Davinci‏ @Davinci_2020 Jan 3
        Replying to @KeithInModesto @TaritaC and

        Which is odd because they will never get it passed the House, let alone Senate or pres. Pelosi is playing for 2020 here.

        2 replies . 0 retweets 2 likes
      6. The Resistance‏ @TaritaC Jan 3
        Replying to @Davinci_2020 @KeithInModesto and

        EXACTLY. I don't know why people are having such a hard time seeing this. She's trying to maintain the House majority at a time huge pieces of progressive legislation will not pass.

        3 replies . 0 retweets 0 likes
      7. Filosofella‏ @filosofella Jan 3
        Replying to @TaritaC @Davinci_2020 and

        #medicare4all is a very popular policy. PayGo is a bad rule for many reasons. One of those reasons though is that it gives politicians an easy out to vote against policies like medicare4all. "Sorry, can't do it, it will add to the deficit."

        1 reply . 1 retweet 12 likes
      8. The Resistance‏ @TaritaC Jan 3
        Replying to @filosofella @Davinci_2020 and

        M4A or other expensive progressive bill isn't passing in the next 2 yrs, but it might have chance in 2020 if we can maintain the House. If PAYGO really were the impediment that people are making it out to be, I doubt nearly the entire progressive caucus would've voted for it.

        1 reply . 1 retweet 1 like
      9. 1 more reply
      1. ben robinson‏ @BenRobinsonMV Jan 3
        Replying to @StephanieKelton

        It’s the power of the purse being held hostage by leadership to “control” the process. It comes from a place of deep mistrust of populism. People need to rise up and wrest control back from these entrenched and protectionist moneyed interests in order to save life on earth.

        0 replies . 4 retweets 13 likes
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      1. Nick Langley‏ @nickolaslangley Jan 3
        Replying to @StephanieKelton

        To protect us from helpful policies that might hurt the wallets of Dems' donors?

        0 replies . 1 retweet 23 likes
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      1. GoStArT‏ @GoStArTwOrKs Jan 3
        Replying to @StephanieKelton

        https://youtu.be/kcjbQl4B8cM  Federal Taxes DO NOT Fund Federal Spending!

        0 replies . 3 retweets 10 likes
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      1. FillmoreStreet Group‏ @Fillmore_Denver Jan 3
        Replying to @StephanieKelton

        @RepDianaDeGette please study Econ 101 and vote No. voting for PayGo just means you are unqualified to represent.

        0 replies . 1 retweet 21 likes
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      1. New conversation
      2. Rangers_in_7‏ @Rangers_in_7 Jan 3
        Replying to @StephanieKelton

        Because people who vote republican are stupid.

        1 reply . 0 retweets 1 like
      3. mind_is_moving‏ @mind_is_moving Jan 3
        Replying to @Rangers_in_7 @StephanieKelton

        The federal PayGo law was passed by the Dems and signed by Obama in 2010. The stupidity is bipartisan.

        1 reply . 0 retweets 5 likes
      4. Rangers_in_7‏ @Rangers_in_7 Jan 3
        Replying to @mind_is_moving @StephanieKelton

        Had breakfast yet? Here, have some context.https://www.politifact.com/truth-o-meter/promises/obameter/promise/34/enforce-pay-as-you-go-paygo-budget-rules/ …

        1 reply . 1 retweet 3 likes
      5. mind_is_moving‏ @mind_is_moving Jan 3
        Replying to @Rangers_in_7 @StephanieKelton

        This crap article implies that Obama’s PayGo was a good idea for which he deserves credit. It’s not. It isn’t just the Republican variation—the whole *idea* of PayGo is reactionary economic nonsense. Obama deserves no credit for salting the earth.

        1 reply . 0 retweets 10 likes
      6. mind_is_moving‏ @mind_is_moving Jan 3
        Replying to @mind_is_moving @Rangers_in_7 @StephanieKelton

        Well, that was fast. But not surprising.pic.twitter.com/O0ojuuEHmI

        0 replies . 0 retweets 0 likes
      7. End of conversation

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