Graduate UMass Economics

Department members attend ‘Budget For All’ hearing

‘Budget For All’ is a proposal to reduce federal spending on defense programs and shift some funding to social programs as a more balanced way to reduce the federal budget deficit and total debt. A non-binding referendum passed 3 to 1 in November 2012, and the Massachusetts state legislature is the sole legislature in the nation that has proposed a bill supporting the budget in session.

Locals participate in ‘Budget For All’ hearing in Boston – Daily Hampshire Gazette

Two local academics traveled with Theberge to testify at the three-hour hearing. Thomas Herndon, a graduate student at the University of Massachusetts Amherst, cited his recent work in debunking a Harvard University study that concluded austerity measures rather than spending are needed in a recession.

Heidi Garrett-Peltier, an assistant research professor in economics at UMass, described studies she has done that show twice as many jobs are generated by investing in education as in the military.

Resolution proposes anti-austerity DC message – WWLP-22 TV

“Clean energy and healthcare create about 50 percent more jobs [than defense],” said UMass Amherst Assistant Economics Professor Heidi Garrett-Peltier.  “If we have to make cuts we are worse off cutting education, we’d lose twice as many jobs as making cuts to the military budget.”