“When it’s better for everyone, it’s better for everyone.” Eleanor Roosevelt Fascinating discussion, but I don’t know that I sleep any easier knowing that, given all the variables, even these experts admittedly don’t know the threshold for how or when we’ll face a reckoning. But it’s likely good as long as the spending is a genuine investment in growing GDP. They seem confident that the ROI will be there. I fear, though, that much of the deficit spending we do isn’t that; rather it’s more like someone who is irresponsible with a credit card. Another stimulating installment of Firing Line with Margaret Hoover. The best 30 minutes of television every week. Thank You all for delivering quality every single time.
Nobody speaks of the velocity of money as a revenue source, if a dollar circulates enough it will generate enough tax cover all government spending. But the reality is it leaves the economy by buying imports and to banks via interest payments.
The guy says we print our own money out of fresh air.,,.. Why do they call it dept giving the impression that the money is actually being borrowed from someone?
I really liked this civil discussion. I've seen Reich many times but this was the first time I've seen Maya. She makes the most non-partisan argument I've ever seen on the national debt. What bothers me about Riech's argument is his willingness to go to a debt-to-GDP ratio of 200-300% based on the hope that at some point along the way these "investments" (which are mostly just expansion of the welfare state) will pay off with massive growth that will allow us to grow our way out of all that debt. And what if those "investments" don't pay off? Well, then we're completely screwed. Greece went in that same direction and fortunately, Germany was able to bail them out. But who is going to bail out the USA? Maya is saying that we should make solid public investments, we just need to pay for them now instead of racking up more debt and handing the bill over to our children.
Some politicians who actually care about the national debt would be a good start. Perhaps a Congress majority on a bipartisan plan to reduce national debt and deficit? Nah, I’m dreaming I’m sure...
The deficit ratios climbed during Bush administration, skyrocketed during Obama's were starting to level off during Last administration, till covid hit. Now it's game on, to set new records on. All the wrong things. The rescue plan,that included a trillion in payoffs and wasted spending. The infrastructure bill that has little or no plan. Basically throws money out there. Infrastructure repair and upgrades are needed. But need to be planned out by engineering people, not politicians. California's high speed rail, electrical grid, and bridges are a fine examples of what not to do. Out of the trillions being proposed. Be lucky if 15 cents on the dollar goes to anything needed or worth while. As long as pork barrel political pet projects take precedent over common sense and reality. Which this administration and house is lacking Private sector has taken great strides in transportation aspects. Privately run, public utilities need to be made to step up to the plate. And invest into their infrastructure. Without raping the consumer. Government should be looking at scaling back. Not growing. Government jobs are an expense , not an asset. And should be looked at in such a manner. Those that are necessary keep, and run well, with quality and efficiency. In mind. Also, as we learned from NAFTA and pandemic. This country needs to bring back home. Private industry that produces, transports, sells our basic needs. As well as the ability to market them for export fairly on a worldwide platform. Economics 101. Which this administration and house don't seem to understand. Willing to sell the house and property for a new set of shoes and a flashy new Edsel.
The subject should have featured Reich _or_ MacGuineas without the other. It is absolutely stultifying to be subjected to the not-so-subtle arched eyebrow of Hoover when Reich spoke or the nodding in agreement when MacGuineas offered a rebuttal or made a point or offered a pearl-clutching "solution" that boiled down to "fix the debt" without the self-discipline of MacGuineas' naming her magic number or percentage, which she seemed to demand from Reich. That's one thing I considered to be a non-productive time-waster. Reich was, as usual, extremely careful with his words while instructing us on what the value of investment spending is and why it was important to err on the side of overinvesting. The use of "human capital" is, in my view, a demeaning term. Do we really want simply to be cogs in the great business machine? This episode was not a discussion that benefited from the point-counterpoint fashion, although with a powerhouse such as Reich, Hoover may have been trying not to be swept away. MacGuineas' responses were utterly predictable;: oh, the budget, the budget, dear me, the budget. How much better to understand that government has a significant role to play in solving the problem and has many levers that can be employed! How much better to recognize that people _and_ businesses benefit significantly when there is, for example, good infrastructure! Executive Producer Shapiro would do us all a favor by helping Hoover understand that siding with one guest vs. another in subtle, non-verbal cues ... is wrong, even if effective. We want to be enlightened by listening to PBS, not subject to a somewhat more subtle and sophisticated level of bias that a Hannity would treat us to. To her credit and unlike Hannity, she didn't try to talk over her guests. Fortunately, the camera would move away from Hoover after she had signaled her agreement with MacGuiness, but the non-verbal approval was injected, sort of like a lawyer's saying something that would be objected to, but the jury would hear and remember even after the objection was sustained. Fair "fight"? Maybe, but too many errors, Ms. Hoover. Maybe you can improve. I'd rather read the transcript and skip the theatrics and manipulation. Then, again, this is the "new" PBS that's sometimes been disparagingly referred to as the Petroleum Broadcasting System. Give me that old-time PBS. Please.
Another slanted panel on this increasingly unwatchable show. Hoover could be the only unbiased reporter on PBS - she would literally have the entire lane to herself. Instead she peddles Dem propaganda for bus fare and walks home. Adios America.
@Hanzee Dent Lol - Hillary Clinton spent four years telling everyone who would listen that the election she lost was rigged. Trump does it for 2 months and he’s a traitor. How fucking convenient. Open borders, cancel culture, an end to biological women in sports - Trump supporters feel their country slipping away. And they’re absolutely correct.
U.S. belongs to all its citizens and things change. Problem is that Republicans talk fiscal responsibility when they are out of power, but spend like drunken sailors when they are in power. Neither party is trustworthy.
@@raybod1775 Couldn’t agree more Ray. I think the Republican Party are every bit as useless as the Democrats are - but at least they got out of the way and allowed an outsider to take them in a better direction. The open border, country club chicken hawks of old are gone forever. Whether Trump runs in 2024 or not, whoever does will embrace his policies.
![Quando Rondo - Grow Up [Official Music Video]](http://i.ytimg.com/vi/8zFnCg3BO4Q/mqdefault.jpg)
“When it’s better for everyone, it’s better for everyone.” Eleanor Roosevelt
Fascinating discussion, but I don’t know that I sleep any easier knowing that, given all the variables, even these experts admittedly don’t know the threshold for how or when we’ll face a reckoning. But it’s likely good as long as the spending is a genuine investment in growing GDP. They seem confident that the ROI will be there. I fear, though, that much of the deficit spending we do isn’t that; rather it’s more like someone who is irresponsible with a credit card.
Another stimulating installment of Firing Line with Margaret Hoover. The best 30 minutes of television every week. Thank You all for delivering quality every single time.
As always, we appreciate your thoughtful feedback! Thanks for watching!
Nobody speaks of the velocity of money as a revenue source, if a dollar circulates enough it will generate enough tax cover all government spending. But the reality is it leaves the economy by buying imports and to banks via interest payments.
The guy says we print our own money out of fresh air.,,.. Why do they call it dept giving the impression that the money is actually being borrowed from someone?
Care of Americans, and VETS! not anyone from other countries. Not even children.
I really liked this civil discussion. I've seen Reich many times but this was the first time I've seen Maya. She makes the most non-partisan argument I've ever seen on the national debt.
What bothers me about Riech's argument is his willingness to go to a debt-to-GDP ratio of 200-300% based on the hope that at some point along the way these "investments" (which are mostly just expansion of the welfare state) will pay off with massive growth that will allow us to grow our way out of all that debt. And what if those "investments" don't pay off? Well, then we're completely screwed. Greece went in that same direction and fortunately, Germany was able to bail them out. But who is going to bail out the USA?
Maya is saying that we should make solid public investments, we just need to pay for them now instead of racking up more debt and handing the bill over to our children.
Some politicians who actually care about the national debt would be a good start. Perhaps a Congress majority on a bipartisan plan to reduce national debt and deficit? Nah, I’m dreaming I’m sure...
Margaret .Smart Very beautiful classy Lady .
Because that's what matters for men.🤣
The deficit ratios climbed during Bush administration, skyrocketed during Obama's were starting to level off during Last administration, till covid hit.
Now it's game on, to set new records on. All the wrong things.
The rescue plan,that included a trillion in payoffs and wasted spending.
The infrastructure bill that has little or no plan. Basically throws money out there.
Infrastructure repair and upgrades are needed. But need to be planned out by engineering people, not politicians.
California's high speed rail, electrical grid, and bridges are a fine examples of what not to do.
Out of the trillions being proposed.
Be lucky if 15 cents on the dollar goes to anything needed or worth while. As long as pork barrel political pet projects take precedent over common sense and reality.
Which this administration and house is lacking
Private sector has taken great strides in transportation aspects.
Privately run, public utilities need to be made to step up to the plate.
And invest into their infrastructure.
Without raping the consumer.
Government should be looking at scaling back. Not growing.
Government jobs are an expense
, not an asset.
And should be looked at in such a manner.
Those that are necessary keep, and run well, with quality and efficiency.
In mind.
Also, as we learned from NAFTA and pandemic. This country needs to bring back home. Private industry that produces, transports, sells our basic needs. As well as the ability to market them for export fairly on a worldwide platform.
Economics 101.
Which this administration and house don't seem to understand.
Willing to sell the house and property for a new set of shoes and a flashy new Edsel.
The subject should have featured Reich _or_ MacGuineas without the other. It is absolutely stultifying to be subjected to the not-so-subtle arched eyebrow of Hoover when Reich spoke or the nodding in agreement when MacGuineas offered a rebuttal or made a point or offered a pearl-clutching "solution" that boiled down to "fix the debt" without the self-discipline of MacGuineas' naming her magic number or percentage, which she seemed to demand from Reich. That's one thing I considered to be a non-productive time-waster.
Reich was, as usual, extremely careful with his words while instructing us on what the value of investment spending is and why it was important to err on the side of overinvesting. The use of "human capital" is, in my view, a demeaning term. Do we really want simply to be cogs in the great business machine?
This episode was not a discussion that benefited from the point-counterpoint fashion, although with a powerhouse such as Reich, Hoover may have been trying not to be swept away. MacGuineas' responses were utterly predictable;: oh, the budget, the budget, dear me, the budget. How much better to understand that government has a significant role to play in solving the problem and has many levers that can be employed! How much better to recognize that people _and_ businesses benefit significantly when there is, for example, good infrastructure!
Executive Producer Shapiro would do us all a favor by helping Hoover understand that siding with one guest vs. another in subtle, non-verbal cues ... is wrong, even if effective. We want to be enlightened by listening to PBS, not subject to a somewhat more subtle and sophisticated level of bias that a Hannity would treat us to. To her credit and unlike Hannity, she didn't try to talk over her guests. Fortunately, the camera would move away from Hoover after she had signaled her agreement with MacGuiness, but the non-verbal approval was injected, sort of like a lawyer's saying something that would be objected to, but the jury would hear and remember even after the objection was sustained.
Fair "fight"? Maybe, but too many errors, Ms. Hoover. Maybe you can improve. I'd rather read the transcript and skip the theatrics and manipulation. Then, again, this is the "new" PBS that's sometimes been disparagingly referred to as the Petroleum Broadcasting System. Give me that old-time PBS. Please.
You have a moral obligation to become wealthy.
Another slanted panel on this increasingly unwatchable show. Hoover could be the only unbiased reporter on PBS - she would literally have the entire lane to herself. Instead she peddles Dem propaganda for bus fare and walks home. Adios America.
@Hanzee Dent Lol - Hillary Clinton spent four years telling everyone who would listen that the election she lost was rigged. Trump does it for 2 months and he’s a traitor. How fucking convenient. Open borders, cancel culture, an end to biological women in sports - Trump supporters feel their country slipping away. And they’re absolutely correct.
U.S. belongs to all its citizens and things change. Problem is that Republicans talk fiscal responsibility when they are out of power, but spend like drunken sailors when they are in power. Neither party is trustworthy.
@@raybod1775 Couldn’t agree more Ray. I think the Republican Party are every bit as useless as the Democrats are - but at least they got out of the way and allowed an outsider to take them in a better direction. The open border, country club chicken hawks of old are gone forever. Whether Trump runs in 2024 or not, whoever does will embrace his policies.