Monday Evening Owls. Reich: With Trump out, will the U.S. lastly bury Reaganism?

The primary is the supposed omnipresent hazard of inflation and the accompanying fear that public spending can simply overheat the financial system.

Garbage. Inflation hasn’t reared its head in years, not even throughout the roaring job market of 2018 and 2019. “Overheating” could not even be an issue for globalized, high-tech economies whose items and providers are so simply replaceable.

Biden’s formidable plans are definitely worth the small threat, in any occasion. Should you hadn’t seen, the American financial system is changing into extra unequal by the day. Bringing it to a boil often is the solely strategy to carry the wages of the underside half. The hope is that file low rates of interest and huge public spending generate sufficient demand that employers might want to increase wages to seek out the employees they want.

A number of Democratic economists who ought to know higher are sounding the false alarm about inflation, however Biden is properly ignoring them. So ought to Democrats in Congress.

One other conservative bromide is {that a} bigger nationwide debt crowds out non-public funding and slows development. This view hamstrung the Clinton and Obama administrations as deficit hawks warned in opposition to public spending unaccompanied by tax will increase to pay for it. (I nonetheless have some previous accidents from these hawks.)

Thankfully, Biden isn’t shopping for this, both.  […]

THREE OTHER ARTICLES WORTH READING

Meet the Undercover Anti-Fascists, by Andy Kroll. Embedded with the crew of anti-fascist researchers and activists who infiltrate and expose Proud Boys, neo-Nazis, militias, and different members of the violent far proper.

The inside story of how the Pentagon blocked efforts to end the Iraq War, by Matthew Petti

‘Lazy,’ ‘Money-Oriented,’ ‘Single Mother’: How Union-Busting Firms Compile Dossiers on Employees, by Lauren Kaori Gurley. Leaked information from IRI Consultants, a prime union avoidance agency employed by Google, present the way it collects knowledge on employees’ character, motivations, and work ethic to bust unions.


TOP COMMENTS RESCUED DIARIES

TWEET OF THE DAY

x

QUOTATION

”I do know what it’s wish to be on meals stamps and to piece collectively well being look after my daughter and me. I had a number of experiences that might assist my district. Each day, People go hungry or can’t get well being care. To not point out those that are homeless, or veterans who aren’t getting the assistance they want. We have to battle on behalf of all of the folks on this nation. The extra folks now we have in workplace who can relate to issues that occur every single day to People, the higher off we’ll be.”
     
  ~~Rep. Debra Haaland, “Native People Take Energy”  (February 2019)


BLAST FROM THE PAST

On this date at Each day Kos in 2018—EPA, researchers, congresswoman search to defend truck-makers from rule to manage killer air pollution: 

They name them “gliders.” They’re massive rigs constructed and offered with out engines, transmissions, and rear axles. Then they’re equipped with this stuff from salvage yards and wrecked vans, and the engines are completely rebuilt all the way down to the core. Rebuilt engines that, due to a loophole, aren’t required to satisfy limits on emissions from diesel-fueled vans as a result of they had been initially constructed earlier than 2001. Engines that, in accordance with the Environmental Safety Company, spew 43-55 times extra emissions than different new massive rigs.

About 4 % of the U.S. truck market is at present made up of gliders—some 10,000 autos a 12 months—partially because of making an attempt to evade the diesel emissions rule on nitrogen oxide and particulate matter that got here into full impact in 2010. Previous to that rule, NOx and PM emissions from massive rigs had been estimated to prematurely kill 1,600 folks a 12 months from most cancers and bronchial asthma assaults.

Since 2010, in accordance with the Division of Transportation, gross sales of gliders rose tenfold from 2010-2015. Utilizing its authority underneath the Clear Air Act, the Obama administration sought in an up to date emissions rule in 2015 to shut this loophole by limiting to 300 the variety of glider kits offered every year.

However, in November, a month earlier than the rule got here into full impact, the Trump regime within the particular person of EPA-hating EPA Chief Scott Pruitt exempted three makers of gliders on the bottom that the company has no authority to restrict gross sales on this method. And he opened a 60-day public remark interval on the prospect of EPA eliminating the annual cap on gliders. That remark interval is now over.

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