Paul Krugman: Addicted to the Apocalypse

So the next time you see some serious-looking man in a suit declaring that we’re teetering on the precipice of fiscal doom, don’t be afraid. He and his friends have been wrong about everything so far, and they literally have no idea what they’re talking about.

Economist's View
Paul Krugman: Addicted to the Apocalypse
Posted by Mark Thoma | Professor of Economics, University of Oregon

Stephanie Kelton — How to Talk About Debt and Deficits: Don’t Think of an Elephant*

Many economists (perhaps even those who agree with us) refuse to talk about the national debt and government deficits the way we do on this blog. Instead of boldly challenging the assertion that the U.S. faces a long-run debt (or deficit) problem, headline progressives typically do what Jared Bernstein did in his column today — i.e. they pay “obligatory” tribute to the Balanced Budget Gods, thereby reinforcing the case for austerity at some point in the not-so-distant future when we will be forced to to deal with this very bad thing called the government deficit. Followers of my work here and on Twitter know that I refuse to pay homage to the Balanced Budget Gods. Instead, I prefer to shift the burden of proof onto those who contend that the U.S. faces a long-term debt or deficit problem....

Charles Hayden: "God Bless our Warrior-Queen."

Amen to that.

New Economic Perspective
How to Talk About Debt and Deficits: Don’t Think of an Elephant*
Stephanie Kelton | Associate Professor of Economic and Department Chair, University of Missouri at Kansas City

PRWatch — Pete Peterson Exposed: The "Grand Bargain" Hoax

Pete Peterson Exposed: The "Grand Bargain" Hoax

PRWatch

Bill Mitchell — The US government can buy as much of its own debt as it chooses

Bill Mitchell provides analysis of the "public debt problem" in the US to show that there isn't any. So much for "Fixing The Debt," and "who will buy the bonds?"

As a proponent of MMT, I do not consider there to be a public debt problem in the US so the analysis presented here is out of interest rather than establishing anything substantive.

However, what it shows is that even within the voluntarily-constrained system that regulates the relationship between the US treasury and the central bank, the latter can still effectively buy as much US government debt as it likes.

Bill Mitchell – billy blog
The US government can buy as much of its own debt as it chooses

Bill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at the Charles Darwin University, Northern Territory, Australia