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stephanie kelton
Other Nations Baffled, Horrified by Very Idea of a Debt Ceiling as GOP Pushes US Toward Default
"We are an example to the world," wrote one American economist. "An example of what not to do."
May 19, 2023
Nations around the world are looking on with a mixture of alarm and bafflement as the United States hurtles toward an economy-wrecking default, with the Republican Party refusing to raise the country's globally unique debt limit without massive, harmful spending cuts.
The possibility of a U.S. default—a failure to pay the government's obligations—has already rattled global markets and prompted grave warnings from major institutions such as the International Monetary Fund, which said last week that a default would have "severe repercussions" for a world economy already facing the prospect of a central bank-induced recession.
The Washington Postreported Friday that the finance ministers of G7 nations have privately asked U.S. Treasury Secretary Janet Yellen for "updates on the status of negotiations between the White House and House Republicans" as officials from the rich countries gather in Hiroshima for their annual summit.
Finance ministers have also voiced their concerns publicly. German finance chief Christian Lindner said last week that he hopes "an adult decision will be made with regard to the development of American government finances and the associated effects on the global economy."
Kazuo Ueda, governor of the Bank of Japan, cautioned that a U.S. default could become a "big problem" that the Federal Reserve "may not be able to counteract."
"The United States is one among the few polities that have adopted and retained debt limits."
The U.S. debt limit, which currently sits at $31.4 trillion, is a "global outlier," the Atlantic Council's Mrugank Bhusari wrote in March, noting that "the United States is one among the few polities that have adopted and retained debt limits."
"Debt limits like the United States'... are not the norm—and they rarely cause major deadlocks in the few countries that have adopted this tool," Bhusari observed. "Like the United States, Denmark also sets its debt limit as a nominal value. But that’s where the similarity ends. The Danish Parliament intentionally sets the ceiling sufficiently high such that it will not be crossed, rendering it no more than a formality."
"Like the United States and Denmark, Kenya also has a nominal debt limit. However, it is under the process of replacing the nominal limit with a limit as a percentage of GDP at 55%," Bhusari continued. "Australia briefly experimented with a debt limit similar to that of the United States, experienced the political infighting that Washington is familiar with, and abolished it soon after."
Citing one Latin America expert, the Post noted Friday that "a debt ceiling like the one that exists in the U.S. stirred debate" in Brazil, where the Lula government is aiming to loosen existing restraints on government spending.
The idea of imposing a strict debt limit "was shot down vehemently, thanks to the U.S. example," the Post reported.
"We are an example to the world," Stephanie Kelton, an American economist, wrote on Twitter. "An example of what not to do."
\u201cWe are an example to the world. An example of what not to do. https://t.co/K4ISWXTgkI\u201d— Stephanie Kelton (@Stephanie Kelton) 1684507808
The international community's reaction to the perilous U.S. debt ceiling standoff comes as President Joe Biden is facing growing pressure from lawmakers at home to end the crisis unilaterally if necessary by invoking the 14th Amendment, which states that "the public debt of the United States... shall not be questioned."
Progressives and legal scholars have long argued that the debt limit, first imposed by Congress in 1917, is unconstitutional and should be abolished—an argument that the National Association of Government Employees makes in a lawsuit filed in federal court 10 days ago.
But as The American Prospect's David Dayen wrote Friday, the plaintiffs "didn’t file a motion for immediate relief," so "the case has sat dormant."
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'It's a Sure Winner--Except for the Profiteers': 200+ Economists Send Letter to Congress Endorsing Medicare for All
"The time is now to create a universal, single-payer, Medicare for All healthcare system in the United States," the economists wrote
May 21, 2019
Ahead of a historic single-payer hearing at the House Budget Committee on Wednesday, more than 200 economists sent a letter to Congress blasting America's "exorbitant and wasteful" healthcare system and endorsing Medicare for All as the most humane and cost-effective solution.
"America's health system turns our survival over to greedy companies with the market power to set outrageously high prices," Jeffrey Sachs, professor of economics at Columbia University and one of the letter's 209 signatories, said in a statement on Tuesday.
"Medicare for All will give us a system already proven in other countries: much lower costs with less hassle and worry. It's a sure winner--except for the profiteers."
--Jeffrey Sachs, Columbia University
"Medicare for All will give us a system already proven in other countries: much lower costs with less hassle and worry," Sachs said. "It's a sure winner--except for the profiteers."
In their letter (pdf), the economists highlighted the fact that the United States spends far more on healthcare than other industrialized nations while achieving significantly worse results--a crisis they say can be remedied by transitioning to a single-payer system.
"Evidence from around the world demonstrates that publicly financed healthcare systems result in improved health outcomes, lower costs, and greater equity," the letter states. "For these reasons the time is now to create a universal, single-payer, Medicare for All healthcare system in the United States."
The economists' endorsement of Medicare for All comes just 24 hours before the House Budget Committee is scheduled to hold just the second-ever congressional hearing on single-payer. The panel will discuss Rep. Pramila Jayapal's (D-Wash.) Medicare for All Act of 2019, which currently has 108 co-sponsors.
National Nurses United (NNU), which has been leading efforts to build grassroots support for Medicare for All nationwide, urged Americans to call members of the Budget Committee and let them know "we're counting on their support."
\u201cTomorrow morning, @HouseBudgetDems hold a historic hearing on #MedicareForAll. \n\nThey need to hear from constituents that we're counting on their support. Is your member of Congress on this list? Call now! \n\n\u260e\ufe0f 202-858-1717 \u260e\ufe0f\u201d— NationalNursesUnited (@NationalNursesUnited) 1558459621
"For patients, the effects would be life-changing," NNU president Jean Ross said in a statement Tuesday. "A Medicare for All system would guarantee the care we need throughout our lifetimes and patients would no longer have to deal with debilitating premiums, out-of-pocket costs, hospital bills, and drug costs again."
Read the economists' full letter:
As economists, we understand that a single-payer "Medicare for All" health insurance system for the U.S. can finance good-quality care for all U.S. residents as a basic right while still significantly reducing overall health care spending relative to the current exorbitant and wasteful system. Healthcare is not a service that follows standard market rules. It should therefore be provided as a public good.
Evidence from around the world demonstrates that publicly financed healthcare systems result in improved health outcomes, lower costs, and greater equity. As of 2017, the U.S. spent $3.3 trillion annually on healthcare. This equaled 17 percent of U.S. GDP, with average spending at about $10,000 per person. By contrast, Germany, France, Japan, Canada, the U.K., Australia, Spain and Italy spent between 9 - 11 percent of GDP on health care, averaging $3,400 to $5,700 per person. Yet average health outcomes in all of these countries are superior to those in the United States. In all of these countries, the public sector is predominant in financing heath care.
For these reasons the time is now to create a universal, single-payer, Medicare for All health care system in the United States.
Public financing for health is not a matter of raising new money for healthcare, but of reducing total healthcare outlays and distributing payments more equitably and efficiently. Implementing a unified single-payer system would reduce administrative costs and eliminate individuals' and employers' insurance premiums and out-of-pocket costs. If combined with public control of drug prices and a dramatically simplified global budgeting system, a sensible Medicare financing system would reduce healthcare costs while guaranteeing access to comprehensive care and financial security to all.
As such, we support publicly and equitably financed healthcare through a Medicare for All system at the Federal level, as described in H.R. 1384 and S. 1129. We encourage Congress to move forward with implementing a public financed Medicare for All plan to achieve the equitable and affordable universal healthcare system that the American people need.
Signed,
- Randy Albelda, Professor of Economics, University of Massachusetts Boston
- Carolyn B. Aldana, Professor Emeritus, California State University, San Bernardino
- Mona Ali, Associate Professor of Economics, SUNY New Paltz
- Larry Allen, Professor of Economics, Lamar University
- Jack Amariglio, Emeritus Professor of Economics, Merrimack College
- Eileen Appelbaum, Co-Director and Senior Economist, Center for Economic and Policy Research
- Peter Arno, Senior Fellow & Director Health Policy Research, Political Economy Research Institute, University of Massachusetts, Amherst
- Michael Ash, Professor of Economics & Public Policy, University of Massachusetts Amherst
- Glen Atkinson, Emeritus Professor of Economics, University of Nevada, Reno
- M V Lee Badgett, Professor of Economics, University of Massachusetts Amherst
- Ron Baiman, Assistant Professor of Economics, Benedictine University
- Dean Baker, Senior Economist, Center for Economic and Policy Research
- Radhika Balakrishnan, Professor, Rutgers University
- Nina Banks, Associate Professor of Economics, Bucknell University
- David Barkin, Distinguished Professor, Universidad Autonoma Metropolitana
- Charles Barone, Professor Emeritus, Dickinson College
- Deepankar Basu, Associate Professor, University of Massachusetts Amherst
- Lourdes Beneria, Professor Emerita, Cornell University
- Peter H. Bent, Assistant Professor, American University of Paris
- Suzanne Bergeron, Professor, University of Michigan Dearborn
- Cyrus Bina, Distinguished Research Professor of Economics, University of Minnesota (Morris Campus), and Fellow, Economists for Peace and Security
- Josh Bivens, Research Director, Economic Policy Institute
- Robert A. Blecker, Professor of Economics, American University
- Peter Bohmer, Faculty in Economics and Political Economy, The Evergreen State College
- Howard Botwinick, Associate Professor of Economics, SUNY Cortland
- Roger Even Bove, Ph.D. in Economics, West Chester University (retired)
- James K. Boyce, Professor Emeritus, University of Massachusetts Amherst
- Robert Brenner, Director, Center for Social Theory and Comparative History, UCLA
- Michael Brun, Instructor, Heartland Community College
- Antonio Callari, Professor, Franklin and Marshall College
- Al Campbell, Emeritus Professor of Economics, University of Utah
- Martha Campbell, Associate Professor of Economics, Emeritus, SUNY Potsdam
- Jim Campen, Professor of Economics, Emeritus, University of Massachusetts Boston
- Jose Caraballo, Professor, University of Puerto Rico
- Scott Carter, Professor of Economics, The University of Tulsa
- James F Casey, Associate Professor of Economics, Washington and Lee University
- John Dennis Chasse, Professor Emeritus, SUNY College at Brockport
- Robert Chernomas, Professor of Economics, University of Manitoba
- Kimberly Christensen, Economics Professor, Sarah Lawrence College
- Douglas Cliggott, Lecturer, Economics, University of Massachusetts
- Nathaniel Cline, Associate Professor, University of Redlands
- Richard Cornwall, Professor Emeritus, Middlebury College
- James Crotty, Emeritus Professor, University of Massachusetts
- Dr. James Cypher, Professor of Economics, Universidad Autonoma de Zacatecas, Mexico, and Emeritus Professor, California State University
- Omar Dahi, Hampshire College
- Anita Dancs, Associate Professor of Economics, Western New England University
- Paul Davidson, Emeritus Professor Chair of Honor, University of Tennessee
- Charles Davis, Professor of Labor Studies, Indiana University
- Carmen Diana Deere, Distinguished Professor Emerita, University of Florida
- George DeMartino, Professor, JKSIS, University of Denver
- Firat Demir, Professor, University of Oklahoma
- James G. Devine, Professor of Economics, Loyola Marymount University
- Geert Dhondt, Associate Professor, John Jay College, CUNY
- Peter Dorman, Professor of Political Economy, Evergreen State College
- Richard Du Boff, Professor Emeritus, Bryn Mawr College
- Marie C. Duggan, Professor of Economics, Keene State College
- Amitava Krishna Dutt, Professor of Economics and Political Science, University of Notre Dame
- Nina Eichacker, Assistant Professor, University of Rhode Island
- David P Ellerman, Visiting Scholar, University of California at Riverside
- Gerald Epstein, Professor of Economics, University of Massachusetts Amherst
- Thomas Ferguson, Professor Emeritus, University of Massachusetts Boston
- Ellen Fitzpatrick, Professor, Merrimack College
- Sean Flaherty, Professor of Economics, Franklin and Marshall College
- Nancy Folbre, Professor Emerita of Economics, University of Massachusetts Amherst
- Mariko Frame, Assistant Professor of Economics, Merrimack College
- Dania V. Francis, Assistant Professor, University of Massachusetts Amherst
- Gerald Friedman, Professor of Economics, University of Massachusetts Amherst
- James K. Galbraith, Professor, University of Texas at Austin
- Barbara Garson, Author, Money Makes the World Go Round
- Armagan Gezici, Associate Professor of Economics, Keene State College
- Helen Lachs Ginsburg, Professor Emerita of Economics, Brooklyn College/CUNY
- Mwangi Wa Githinji, Associate Professor, University of Massachusetts-Amherst
- Art Goldsmith, Professor of Economics, Washington and Lee University
- Neva Goodwin, Co-director, GDAE, Tufts University
- Ulla Grapard, Professor of Economics and Women's Studies, Emerita, Colgate University
- Robert Guttmann, Augustus B Weller Professor of Economics, Hofstra University
- Robin E Hahnel, Professor Emeritus, American University
- John Battaile Hall, Professor of Economics, Portland State University
- Jay Hamilton, Assistant Professor, John Jay College
- Greg P. Hannsgen, Founder and Blogger, Greg Hannsgen's Economics Blog, and Research Associate, Levy Economics Institute of Bard College
- John T. Harvey, Professor of Economics, Texas Christian University
- Baban Hasnat, Professor of International Business, SUNY Brockport
- F. Gregory Hayden, Professor, University of Nebraska-Lincoln
- Carol E. Heim, Professor of Economics, University of Massachusetts Amherst
- John Forrest Henry, Senior Scholar, Levy Economics Institute, and Adjunct Professor, University of Missouri-Kansas City
- P. Sai-wing Ho, Professor, University of Denver
- Joan Hoffman, Professor, John Jay College of Criminal Justice CUNY
- Barbara Hopkins, Professor, Wright State University
- Candace Howes, Professor of Economics, Connecticut College
- Eric Hoyt, Ph.D. in Economics, University of Massachusetts Amherst, and Research Director, Center for Employment Equity
- Joseph Michael Hunt, Instructor, Environmental and Health Policy, Harvard Uiversity
- Dorene Isenberg, Professor of Economics, University of Redlands
- Tae-Hee Jo, Associate Professor, SUNY Buffalo State
- Fadhel Kaboub, Associate Professor of Economics, Denison University, and President, Global Institute for Sustainable Prosperity
- Stephanie A Kelton, Professor of Economics and Public Policy, Stony Brook University, and Senior Economic Advisor, Bernie2020 Presidential Campaign
- Haider A Khan, John Evans Distinguished University Professor, University of Denver
- Mu-Jeong Kho, University College London, the University of London
- Marlene Kim, Professor, University of Massachusetts Boston
- Mary C. King, Professor of Economics Emerita, Portland State University
- Charalampos Konstantinidis, Associate Professor, University of Massachusetts Boston
- Kazim Konyar, Professor of Economics, California State University, San Bernardino
- Brent Kramer, Adjunct Assistant Professor, City University of New York
- Patrick L Mason, Professor of Economics, Florida State University, and Director, African American Studies Program
- David Laibman, Professor Emeritus, Economics, City University of New York, and Editor, Science & Society
- Thomas Lambert, Lecturer, University of Louisville
- Anthony Laramie, Professor of Economics, Merrimack College
- Margaret Levenstein, Research Professor, Institute for Social Research and School of Information, University of Michigan
- An Li, Assistant Professor, Sarah Lawrence College
- Victor D. Lippit, Professor Emeritus of Economics, University of California, Riverside
- James Luke, Professor of Economics, Lansing Community College
- Daniel MacDonald, Assistant Professor, California State University San Bernardino
- Arthur MacEwan, Professor Emeritus of Economics, University of Massachusetts Boston
- Allan MacNeill, Professor, Webster University
- Zagros Madjd-Sadjadi, Full Professor of Economics, Winston-Salem State University, and Former Chief Economist, City and County of San Francisco
- Yahya M. Madra, Associate Professor of Economics, Drew University
- Theresa Mannah-Blankson, Assistant Professor of Economics, Messiah College
- Thomas Masterson, Director of Applied Micromodeling, Levy Economics Institute of Bard College
- Gabriel Mathy, Assistant Professor, American University
- Peter H Matthews, Dana Professor of Economics, Middlebury College
- Scott McConnell, Associate Professor of Economics, Eastern Oregon University, and Owner/CEO, Side A Brewing
- Elaine McCrate, Economics Professor Emerita, University of Vermont
- Terrence McDonough, Professor Emeritus, National University Ireland Galway
- Martin Melkonian, Adjunct Associate Professor, Economics, Hofstra University
- Peter B. Meyer, Professor Emeritus of Urban Policy and Economics, University of Louisville
- Thomas Michl, Professor of Economics, Colgate University
- John Miller, Professor of Economics, Wheaton College
- Katherine A. Moos, Assistant Professor of Economics, University of Massachusetts Amherst
- Tracy Mott, Professor, University of Denver
- Michele Naples, Professor of Economics, The College of New Jersey
- Daniel H. Neilson, Faculty in Economics, Bard College at Simon's Rock
- Edward J. Nell, Emeritus Professor, New School for Social Research
- Julie A. Nelson, Professor, University of Massachusetts Boston
- Reynold F. Nesiba, Professor of Economics, Augustana University
- John Casey Nicolarsen, Visiting Professor, Sarah Lawrence College
- Eric Nilsson, Professor, California State University San Bernardino
- Erik Olsen, Associate Professor, University of Missouri Kansas City
- Paulette Olson, Professor Emerita, Wright State University
- Lenore Palladino, Senior Economist, Roosevelt Institute
- Christian Parenti, Associate Professor Department of Economics, John Jay College CUNY
- Mark Paul, Assistant Professor of Economics, New College of Florida
- Eva Paus, Professor of Economics, Mount Holyoke College
- Karen A Pfeifer, Professor Emerita of Economics, Smith College
- Lynda Pickbourn, Assistant Professor of Economics, Hampshire College
- Bruce Pietrykowski, Professor of Economics, University of Michigan-Dearborn
- Chiara Piovani, Associate Professor, University of Denver
- Robert Pollin, Distinguished Professor of Economics, University of Massachusetts Amherst, and Co-Director, Political Economy Research Institute (PERI)
- Devin T. Rafferty, Assistant Professor, Saint Peter's University, and Founding Director, MS Finance Program
- Pratistha Joshi Rajkarnikar, Postdoc Scholar, Global Development and Environment Institute, Tufts University
- Michael Robinson, Professor of Economics, Mount Holyoke College
- John Roche, Associate Proferssor Emeritus, St John Fisher College
- Leonard Rodberg, Emeritus Professor of Urban Studies, Queens College/CUNY
- Leanne Roncolato, Assistant Professor of Economics, Franklin and Marshall College
- Frank Roosevelt, Emeritus Professor of Economics, Sarah Lawrence College
- Jaime Ros, Emeritus Professor, University of Notre Dame, and Professor of Economics, National Autonomous University of Mexico
- Nancy E Rose, Professor Emeritus, California State University San Bernardino
- Trevor R. Roycroft, Ph.D., Professor Emeritus, Ohio University
- David F. Ruccio, Professor of Economics, University of Notre Dame
- Jeffrey D. Sachs, Professor, Columbia University
- Gregory M Saltzman, Professor of Economics and Management, Albion College
- John Sarich, The Cooper Union for the Advancement of Science and Art
- John Schmitt, Vice President, Economic Policy Institute
- Jeremy Schwartz, Associate Professor, Loyola University Maryland
- Elliott Sclar, Emeritus Professor, Columbia University
- Stephanie Seguino, Professor of Economics, University of Vermont
- Mark Setterfield, Professor of Economics, New School for Social Research
- Anwar Shaikh, Professor, New School for Social Research
- Barry G. Shelley, Senior Lecturer, Pardee School of Global Studies, Boston University
- Zoe Sherman, Assistant Professor of Economics, Merrimack College
- Heidi Shierholz, Senior Economist and Director of Policy, Economic Policy Institute
- Hee-Young Shin, Assistant Professor, Wright State University
- Nicholas Shunda, Associate Professor of Economics, University of Redlands
- Kellin Stanfield, Assistant Professor of Economics, Hobart and William Smith Colleges
- Howard Stein, Professor, University of Michigan, Ann Arbor
- Jose A. Tapia, Associate Professor, Drexel University
- Linwood Tauheed, Associate Professor, University of Missouri Kansas City
- Daniele Tavani, Associate Professor, Colorado State University
- Pavlina R. Tcherneva, Program Director and Associate Professor of Economics, Bard College, and Research Associate, Levy Economics Institute
- Chris Tilly, Professor of Urban Planning, UCLA Luskin School of Public Affairs
- E. Ahmet Tonak, Visiting Professor, Economics, University of Massachusetts Amherst
- Mariano Torras, Professor, Adelphi University
- Andres Torres, Distinguished Lecturer, Lehman College (retired)
- Mayo Toruno, Professor Emeritus, California State University San Bernardino
- Eric Tymoigne, Associate Professor of Economics, Lewis & Clark College
- Vamsi Vakulabharanam, Associate Professor of Economics, University of Massachusetts Amherst
- William Van Lear, Economics Professor, Belmont Abbey College
- Ramaa Vasudevan, Associate Professor, Colorado State University
- Tanadej Vechsuruck, Assistant Professor, University of Rhode Island
- William Waller, Professor of Economics, Hobart and William Smith Colleges
- John P. Watkins, Professor of Economics, Westminster College, and Adjunct Professor of Economics, University of Utah
- David F. Weiman, Professor of Economics, Barnard College, Columbia University
- Scott A. Weir, Ph.D. in Economics, Retired
- Jeannette Wicks-Lim, Associate Research Professor, Political Economy Research Institute
- Noe Wiener, Lecturer, University of Massachusetts Amherst
- Robert B. Williams, Professor of Economics, Guilford College
- John Willoughby, Professor, Department of Economics, American University
- Benjamin Wilson, Assistant Professor, SUNY CortlandL
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- Valerie Wilson, Director, Program on Race, Ethnicity & the Economy, Economic Policy Institute
- Andrew J Winnick, Professor Emeritus, California State University Los Angeles
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- Yavuz Yasar, Associate Professor, University of Denver
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Obama Pilloried for Playing the 'How You Gonna Pay for It?' Card on Progressive Agenda
"No president since FDR has been handed as many opportunities to transform the U.S. into something that doesn't threaten the stability of life on this planet. He has refused every one."
Mar 26, 2019
Former President Barack Obama on Monday night cautioned freshman members of the U.S. House against pushing for broadly popular, sweeping reforms by suggesting that voters will reject progressive policies due to their supposed high costs--despite evidence to the contrary.
At a meeting organized by House Speaker Nancy Pelosi (D-Calif.), Obama told several first-term members both that they should continue to pursue "bold" policy agendas--but also injected the familiar right-wing and centrist canard concerning the cost of such programs.
"He said we [as Democrats] shouldn't be afraid of big, bold ideas--but also need to think in the nitty-gritty about how those big, bold ideas will work and how you pay for them," one attendee told the Washington Post.
The two ideas struck many critics as contradictory. Some slammed the former president for appearing to try to tamp down the ambition, passion, and sense of urgency many freshman including Reps. Alexandria Ocasio-Cortez (D-N.Y.) and Rashida Tlaib (D-Mich.) have brought to their work--hoping to combat a climate crisis fueled by corporate greed and politicians' complicity; a for-profit health insurance system which has left tens of millions of Americans without healthcare; and rising economic inequality.
\u201cNow I'm not saying, we shouldn't do what every other rich country in the world already does. And I'm not saying we shouldn't put up some kind of fight against climate change. I'm just saying, man, think about the price tag. How will we pay for it? https://t.co/u0VRXO65kw\u201d— Stephanie Kelton (@Stephanie Kelton) 1553604842
Obama's remarks also put him at odds with a number of 2020 Democratic presidential candidates, at least 10 of whom support a Green New Deal and a majority of whom have backed a Medicare for All plan, including several who have co-sponsored Sen. Bernie Sanders' (I-Vt.) bill in the Senate.
According to the Post, the former president mainly expressed concern with how voters will react to progressive policies that require financial investment.
However, the majority of the public supports the proposals, and most Americans surveyed by YouGov in January said that the wealthiest people in the country and corporations should be taxed at a higher rate in order to fund a Green New Deal. Fifty-nine percent of those surveyed by The Hill also said that the top marginal tax rate should be raised to 70 percent in order to combat inequality and fund progressive policies.
On social media, some critics added that Obama's comments crystallized the results of his two terms in the White House, during which he pushed for healthcare reforms that insulated the private insurance industry; bailed out the U.S. financial system without holding big banks accountable for causing the 2008 financial meltdown and leaving working Americans still struggling through a foreclosure crisis; and failed to propose ambitious targets for reducing fossil fuel emissions.
"No president since FDR has been handed as many opportunities to transform the U.S. into something that doesn't threaten the stability of life on this planet," wrote author Naomi Klein on Twitter, quoting a 2009 article she wrote for The Nation. "He has refused every one."
10 years ago I wrote about how Obama blew his #GreenNewDeal moment: "No President since FDR has been handed as many opportunities to transform the U.S. into something that doesn't threaten the stability of life on this planet. He has refused every one." https://t.co/2nlmeAO1OR https://t.co/ygiC3s9Hm3
-- Naomi Klein (@NaomiAKlein) March 26, 2019
\u201cIf Obama\u2019s health care law wasn\u2019t a massive concession to the pharmaceutical and health insurance industries, we wouldn\u2019t be having this conversation and we\u2019d also have better, cheaper health care https://t.co/hzo1pzz3ys\u201d— Andrew Perez (@Andrew Perez) 1553605710
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