https://democracynow.org - The Trump administration unveiled its $4.1 trillion budget Tuesday. The plan includes massive cuts to social programs, while calling for historic increases in military spending. The budget proposes slashing $800 billion from Medicaid, nearly $200 billion from nutritional assistance programs, such as food stamps and Meals on Wheels, and more than $72 billion from disability benefits. The plan would also completely eliminate some student loan programs. It would ban undocumented immigrants from receiving support through some programs for families with children, including the child care tax credit. The budget also calls for an historic 10 percent increase in military spending and another $2.6 billion to further militarize the U.S.-Mexico border, including $1.6 billion to build Trump’s border wall. For more, we speak with Nobel Prize-winning economist Joseph Stiglitz.
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We've been watching this unravel from abroad (Australia). Looks like a terrible situation where many in the poor and middle classes have been duped by a business criminal - who is now driving the economy into the ground at a foundational level. SAD 😉 It could be time for countries to think about who the next next super power will be beyond the USA as Trump and Republicans, if left unchecked, could be the death nail of a once formidable economy.
I love how everyone is complaining from their computer all comfortable. All of this is happening because we are lazy and consumed with technology and stupid media. We dont get up and go protest. We deserve what happens to us.
JESTER: How is Trump corrupt? He's in bed with Putin and Russia, he's committed money laundering for decades, racketeering for decades, taking Russian-Deutsch sanctioned bank loans in the millions, stealing away all our rights, our freedom, health care, clean water, clean air, education, self-serving tax cuts for his obscene family and pals, a full metal jacket traitor to America - Lumpy won by committing treason - he lost by 3.5 million votes LEGALLY ~!~
VOTE OUT REPUBLICANS and then your ideas will come to fruition shortly thereafter. Repukes live to honor and fund their corporate donors; who in turn they steal from the Middle Class to fund them - that vicious 2% obscenely rich circle goes round and round and round down the cesspool drain eventually we hope but highly doubtful between Russia, GOP lies, deceit, fear mongering, factless fake news, and out of control and our hands GOP self-serving behavior.
Amazing. Even David Stockman thinks it's bad. Stockman was of course the chief budget officer for Regan. If you've got economists from Stockman to Stig panning it, saying basically, it's not even comprehensible as an economics document, you know you've got scam and voodoo in tandem.
Republicans are now the greediest bastards in the world. That's why Americans don't get health care as a normal human right. Did you know that the 14th Amendment gives Corporations the same rights as individuals. Crazeee!
Today is Dec. 6, 2017. Last qtr. GDP came in at 3.7...unemployment at a 17 year low. The stock market tipped out at a record 24, 000 plus. Leave it to biased Democracy Now! to book this liberal piece of shit economist expounding on the wonders of the Swedish economy and the beauty of their immigration policy. This is the perfect example of fake news and how our tax dollars are used to subsidize socialist propaganda. Thomas Sowell must be banging his head somewhere. ?...
I hope the Americans can stand up and fight these sickening psychopaths - cutting while massively increasing the military - paying ordinary people to control other ordinary people = here's hoping the military people side with the people
It sort of seemed that Trump´s presidency could be a protectionist nationalistic cuasi fascist presidency but it now is clear that it mixes xenophobia with crude neoliberal economic cuts in favor of the corporate elite. The US is not even in a economic crisis yet. I feel sad for the working people who got conned by this demagogic asshole
Mick Mulvaney is a waste of taxpayer money!!! Trump is a waste of taxpayer money and so is this entire administration. The EPA could well save a boatload of money because it protects the health of the nation which is extremely expensive. Money spent to protect the environment could well save a great amount of money now spent to try to cure cancer and other health disasters.
The definition of insanity is doing the same thing over and over and expecting a different result, which describes this tax plan. That means that the Republican party is insane and so are the people who vote for them. This plan has been tried twice before to the detriment of the country. When are people going to wake up? Someone must have a better idea, but the idea of more equality economically is anathema to the people who control this country. If you are poor or middle class you can expect to become even poorer in the future.
@Eric Carlos Bertrand....Remember me??? Remember I told you Joseph Stiglitz was a wolf in sheep's clothing and you defended him??? Go to Google and type, """World Economic Forum Joseph Stiglitz says get rid of cash, move to a digital currency!!!""" WHAT??? LOL, Paging Mr. Orwell, paging Mr. Orwell, you have a telephone call sir, it's big brother Mr. Orwell!!!! LOL, you just got owned Eric!!!!!
TODAY (7-18-17) HOUSE REPUBLICANS UNVEILED THEIR VERSION OF THE BUDGET. IN THEIR BUDGET THERE IS AN AMENDMENT TO REPEAL ALL OF THE DODD-FRANK LAWS PUT INTO PLACE WHILE OBAMA WAS IN OFFICE. IS IT THE INTENT OF THE REPUBLICANS TO BRING ON ANOTHER RECESSION? DIDN'T THEY GET ENOUGH OF WATCHING PEOPLE LOSE THEIR JOBS AND HOMES? MAYBE NOT.
That is the consequence to go from a debt-economy back to a creating-economy.
Eventually the produktion-economy will win over the publicmoney-addictive-parasite-economy.
The transition will be however, painfull, but is not even a random "choice" from. Mr. President Trump.
3.0 growth in production GDP is considered minimum criteria for a viable health of all countrys in world. we have a 1.2 GDP !!!! on par with Congo Zimbabwe n Haiti...we are largest 3rd world country on planet
Makes no sense at all to be in favor of an arms deal with a country who's citizens flew planes into our skyscrapers but find it ok to want to make budget cuts to the least among us (elderly, handicapped & struggling students) because they think that EVERYBODY getting "something" for "free" that they, themselves can not is just plain lazy and won't work. OH...and then show up in church every Sunday and claim to be a good Christian. You've all been dazzled by Trumpenfeuher B.S. Remember when he said "Two Corinthians?" Yeah....there's a person with "real Christian values" for ya. Even non-Christians know it's "Second Corinthians". If this budget passes, the pitchforks will come and hiding in a gated community won't help because there's always more pitchforks than crowns.
Look at the metrics: The US spends at least 8 percent of GDP on national security (the UK about 2 percent), and about 18 percent on health care (the UK about 7 percent). In other words, the US spends about 26 percent of GDP on those two items, the UK about 9 percent. Long story short: US GDP is about $20 trillion, so if we spent 9 percent of our GDP on those two items, like the UK, we'd save $3 trillion a year, enough to eliminate our national debt (about $20 trillion) in less than seven years. We spend way too much on national security and health care. What is truly unnerving about both parties is that they have lost the ability to think analytically, to look for good models, to adopt best practices around the world, because they are beholden to special interests or unholy ideologies that sanctify their own self-interest and greed.
China will be the first world power pretty soon, especially with Trump in office. And once China is first then we will start to see countries stop trading oil in dollars and the such and no "freedom" war will change that. Trump or not the US is doomed on the long term anyways because the strength of their economy heavily relies on the dollar being the world's main trading currency, without that their economy isn't that strong because of a horribly bad redistribution of wealth that would take decades to change, if possible at all.
Pushing Europe into China's arms like Trump did at the G7 is just stupid beyond belief.
This budget has got to be the weirdest budget I've ever seen it just doesn't make sense it doesn't seem to help anyone it seems to make an extremely tense complicated process worse. It's very strange I hope it does not pass I would love to have a comprehensive budget plan.
he means the sanders family if trump cuts the money being funneled from fanny-may to the government slush funds under the guise called obamacare....trumps a financial genius if nothing else and donates his salary....he lost money to become president and clean it up....give him a chance....all the crooks are the ones crying to scare you and we cant do any worse at this point
"Americans, like human beings everywhere, believe many things that are obviously untrue. Their most destructive untruth is that it is very easy for any American to make money.
"They will not acknowledge how in fact hard money is to come by, and, therefore, those who have no money blame and blame and blame themselves.
"This inward blame has been a treasure for the rich and powerful, who have had to do less for their poor, publicly and privately, than any other ruling class since, say Napoleonic times.
"Many novelties have come from America. The most startling of these, a thing without precedent, is a mass of undignified poor. They do not love one another because they do not love themselves.” ― Kurt Vonnegut, Slaughterhouse-Five
A little realityWe the American people (each of us) are responsible for our country!!!!! In any civilization, past, present or future, under any form of government, pharaoh, dictator, king, ceasor, communism, socialism, republic, parliament or congress, there is only one person responsible and you can meet that person when you look in the mirror to comb your hair, shave your face or put on your makeup. That is the person responsible!!! When we abrogate our responsibilies to any form of government, that government, driven by their own narcissism and greed will eventually make us their pons and slaves. It is time to mature, stop blaming congress, the president, the Federal Reserve or government in general. We are the problem!!!
my son has autism and I have lupus we count on some of these programs I'm afraid we will see hunger and have no health care before trumps 4 years are up. I just keep telling myself that I was given this life because I'm strong enough to live it.
It must be a terrible shock to Trump supporters in the 'rust belt' and elsewhere to see him do this but they acted in hope and desperation. We have to accept the truth that all this everywhere will not end until some seemingly insignificant issue blows up and the lot topples. It's always been that way and some smarter ones can see it coming. patience my friends, patience.
" Beware making an enemy of a man with infinite patience"
A lack of wisdom and understanding of politics is the problem, no one who is experiences in politics would promise so much, as Trump did, as they know its not possible to deliver, and if voters had more than one brain cell working they too would understand this.
Countries like the UK are able to provide health care to everyone, with no premiums rising, by making everyone pay income tax, the rich pay more because they have more income, so everyone is covered, for nearly everything.
Trump is a con man, telling the people you will everything for nothing, like those con men that say they have a great deal on a Rolex, you spend half of what a real one would cost for a fake that is worthless; it takes a greedy fool to fall for such a con; and those who did not vote at all are the biggest fools of all, as if their vote would not have made a difference; if you did not vote you have no right to moan about how things turned out.
This is going to take us down a road of desperation, crime will rise and they will want to dictate our every move because of it. Suffering for the rest of us, that is this budget. For the GOT fan`s ~ Winter is coming. Why is there never an MMT conversation with all the tax speech?
America needs to become Socialist nation and get rid of this capitalist government we currently have. Sweden, Norway and the Netherlands have a higher standard standing of living than we do, your college and medical are all free. They pay more taxes than we do but we as Americans pay more out of our pockets than they do.
The rich have been spewing out nothing but propaganda on the evils of Socialism, they try to compare it to Communism to scare the American public which is so gullible and believes anything that is told to them. Socialism will only hurt one group in America, the rich because they know they will have to fork over more of their wealth to a government that benefits all of its citizens and not just one group.
If Socialism doesn't work, than why are those countries living better and longer than we do? All those tax cuts and slashing of medical and social programs is a prime example of politicians only working for the best interest of its wealthy donors who are already rich and turning it's back on the average American citizen who needs all the help they can get. The Republican party is a party of hate that has no empathy for struggling Americans.
It's time that we as Americans stand together and vote that devil worshipping party out of power, why not their not doing nothing for you but making your life more miserable.
lmao u idiot the only reason those countries work is cuz number 1 every1 has jobs and produce more in an hour then americans in 3 hours and 2...they are only 5 million ppl on average...a country of 336 million ppl would never ever work with socialism especially with 20 million illegals that dont pay taxes... and the fact that america is all about the big companies...usa socialism= rich take all ur damn money and the middle class pays the poor instead of the rich paying it.... also the rich own the fukin government whether its the right or left its called an oligarchy and every country has dem
He speaks of continuing resolution budget at 16:50.
In other words: crisis management mode.
Standard Operating Procedure by GOP 'leadership': create the crisis so they can swoop in later to play Hero and rescue the country out of the situation.
A scenario which never works and is detrimental to the economy, our country, and the American people.
However, it is a scenario which appeals to their PRIDE.
This is a typical result of extreme income inequality. Those who have too much money and time on their hands become destructive; they manipulate people and resources to feed their own egos.
And who pays the cost for these havoc wreaking narcissists? The rest of us pay the price because narcissists always protect themselves and blame other people / circumstances for the problems the narcissists caused.
when some Americans grew up and realised that "the American dream" was a lie sold to them by the wealthy so the masses would not demand that the rich paid their fair share to a society that vastly favors them .
still sleeping ?
Once again Amy you support the very people that have spent decades destroying our economy. But the last 8 years is the worst. How can you sit there and defend even one of this complete criminals that have ripped us off for years. Wake up! I finally woke up. You are old enough to face this. All these so called experts have done nothing, but steal from us and make a living off of empty phrases while they fill their pockets.
Who are we at war with that we need to ramp up military at the expense of internal spending? And when we spend on military it tends to go to a handful of companies while social programs are spent throughout the community.
US Army killing innocent results in killing innocent people in Manchester, stop US Army to be terrorist t blow back around the world by ISIS and other terrorists group which supported and trained by US Army, down with US terrorist group.
What an idiot professor.. The american dream is dead precisely because of big bloated government budgets.. Trump should take the biggest sledge-hammer in history and reduce government spending to as little as possible, only then will the american dream come back... When government gives back the money to the people then they can realize their own dreams.
Dear Amy and Mr. Stiglitz,
Thank you for your dedicated and honest reporting Amy and thank you Mr. Stiglitz for your very informative lectures and video presentations and I look forward to reading your latest book. I am writing to you to ask this question: Are we not looking at the world’s most underrated practical joke? Isn’t it obvious that Mr. Trump is doing everything in his power to get out of office? No-one in their right mind would present a budget like the one you are discussing, not even someone who is out-of-their-mind when I think of it. I think Donald Trump does love his country as he has repeatedly said. What it looks like to me is that he has asked himself, ‘How do I get out of this thing, how can I gracefully exit the stage from being President?’’ He is a smart man and knows that he is not good at politics and what really tells me I’m right is him having the Russians in the Oval Office and kicking out the American media. You can almost hear him saying to Mr. Labrov, ‘’If this doesn’t work I don’t know what will?’’ He is taking everyone for a ride until he gets his walking papers and gets to go back to his business interests a much, much richer man.
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