Episode 248 - American Hustle (w/ Richard Wolff)

Bad Faith

News, Comedy, Politics

4.5 • 2.8K Ratings

🗓️ 2 February 2023

⏱️ 78 minutes

🔗️ Recording | iTunes | RSS

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Summary

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Briahna interviews Marxist economist Richard Wolff about the debt ceiling negotiations that started this week and the progressive solutions to the debt crisis that are never put on the table, including taxing the rich, cutting the military budget, and minting the coin. The conversation eventually turns toward the subject preoccupying the left: the future of the left, Marianne 2024, and the leadership void left by Bernie Sanders. Is there hope for a "Draft X" movement? Who is Wolff's dream candidate?

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Produced by Armand Aviram.

Theme by Nick Thorburn (@nickfromislands).

Transcript

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0:00.0	These are all signs of a declining empire and watching a new crane, watching this process
0:08.3	in which the United States is pouring unheard of amounts of money into this country that's
0:15.1	literally being blown apart by this situation and wondering to themselves, this smells, this tastes,
0:24.0	this looks like what every empire on the way down has always done, overreach.
0:54.4	I'm so glad to be joined again on Bad Faith Podcast by Professor Richard Wolf, an American
1:03.5	Marxist economist known for his work on economic methodology and class analysis,
1:07.9	Professor Meredith of Economics at the University of Massachusetts Amherst and a visiting
1:11.9	professor in the graduate program and international affairs of the new school. Welcome back to the
1:16.5	podcast Professor Wolf. Thank you. I'm real glad to be here. All right. There is quite the
1:22.1	docket of things I would like for you to explain to me today. I regret to inform you that I've never
1:27.4	taken an economics class. I'm not the best with this, but I think I think this is partly why this
1:32.2	will be an informative episode because I'm going to ask the questions that I'm sure many, many lay
1:36.0	people also have. So top of the list today is the question of the dead ceiling as I'm sure people
1:44.0	are aware. This has become the singular issue for a lot of Republicans who hope to use their
1:51.8	newfound majority in the house to make this a painful process as it once was, what was that back
1:57.0	in 2012. The last time we had a big standoff around the dead ceiling. So what we constantly hear
2:03.9	is that the national debt is not like a bank account, that this idea that we need to curb our
2:08.9	spinning in this kind of simplistic description that we get oftentimes from the right is not in fact
2:13.9	accurate. However, that is the narrative that we are continuing with right now. The question is
2:18.5	why are we spending more than we are able to pay? Why do we keep ending up in this situation?
2:24.7	And what are the best solutions to prevent this discourse from coming around periodically?
2:30.4	So first and foremost, why is there a concern around the debt cliff upcoming?
	...

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