Many times in American policymaking, elected officials, their staffs, and members of the media claim they are unable to enact meaningful policies to increase the quality of life for Americans because the United States lacks a way to “pay for it”. While there is seemingly always enough money to give defense contractors while cutting taxes for the wealthy, the middle class and working poor are often threatened with cuts to Social Security, Medicare, Food stamps, and Medicaid in attempts to “balance the books”. Afterall, the government has to accountable in its spending like a household right?
What if we got this all wrong? What if we never lack the ability to pay for goods and services? What if budget deficits aren’t the REAL deficits that matter? Watch the following video.
What did you think of Dr. Kelton’s presentation and ideas? Does this make sense or is she wrong? Why? What potential, if any, do her ideas on macroeconomic policy have for the United States? Are there any additional questions you would like to ask me?
You can listen to me discuss her ideas here starting at 22:14.
https://news.wjct.org/first-coast-connect/2021-05-11/hiring-issues-modern-monetary-theory-book-club-art-bikes
