Thursday, May 9, 2019

Why Is This Happening? Debunking the deficit hysteria with Stephanie Kelton: podcast & transcript—Chris Hayes interviews Stephanie Kelton

Should you be worried about the federal deficit? While campaigning, President Donald Trump followed in the footsteps of his conservative predecessors by fear-mongering about the ballooning deficit — but when he got to the White House that concern all but seemed to disappear when it came to his tax cuts for the rich and increased government spending. In fact, there’s a pattern to the Republicans’ selective concern about increasing the deficit, and it all depends on who holds the power. 

When you look at the behavior of people in politics, they don’t really care about the national debt as much as they like to talk about it. So what does their bad faith use of the deficit tell us about how important that number actually is? Stephanie Kelton is here to break it all down — the national deficit, the nature of money itself, federal spending, and why it’s time to stop comparing it to a household budget....

1 comment:

Transcendia said...

I'd be happy to see Stephanie Kelton become Treasury Secretary or the Leader of the Fed.
I would have been happy to see Warren Mosler & her run for the Presidency.
Few are aware that as a private individual Mr. Mosler convinced the Obama admin
to give the people a 2 percent tax cut. Their position, Mr. Mosler's for certain
is that Americans are overtaxed & under paid. I'm waiting for the candidate that says
"Congress votes the bills and the Treasury provides the money." Renaming the
"Deficit Line" as the "Spending Line" would do wonders. Then of course making sure
the majority know that when the Gov. spends money on doctors & teachers that money
enters the overall economy as much as money industry spends on labor and capital expenses.