DiscoverWhy Is This Happening? with Chris HayesDebunking the Deficit Hysteria with Stephanie Kelton
Debunking the Deficit Hysteria with Stephanie Kelton

Debunking the Deficit Hysteria with Stephanie Kelton

Update: 2019-05-071
Share

Description

Should you be worried about the federal deficit? While campaigning, President 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 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.

Email us at WITHpod@gmail.com

Tweet using #WITHpod

Read more at nbcnews.com/whyisthishappening

Learn more about your ad choices. Visit megaphone.fm/adchoices

Comments (1)

Stephen Dillard

You should have gotten Warren Mosley himself to explain MMT. Everything your guest said was correct, but it was a confusing introduction to the topic. He has talks where he explains it much more clearly on You Tube. The only thing I haven't heard him explain is how to measure the "slack" we have in labor and resources, and your guest merely referenced someone else's study without explaining the method. But if you think of it just as an issue of how many dollars we need in the private sector before we risk inflation, just look at the trillions of dollars poured in since 2009 and the lack of inflationary pressure. I hope you revisit this issue again because it's important. It's not that it's just a new way dreamed up to look at Federal spending. It's the proper adjustment to the way things have worked since we left the gold standard in the 1970s. It's just that the old ways of thinking have persisted too long.

May 13th
Reply
loading
00:00
00:00
1.0x

0.5x

0.8x

1.0x

1.25x

1.5x

2.0x

3.0x

Debunking the Deficit Hysteria with Stephanie Kelton

Debunking the Deficit Hysteria with Stephanie Kelton

Chris Hayes, MSNBC & NBCNews THINK