The Deficit Myth
Slate Money
00:00
Is There a Real Constraint to Inflation?
The U.S. has a tremendous capacity to run deficits and debt, says Julian Zelizer. But there's certainly a real constraint, which is inflation, he says. The way the federal budgeting process is set up today "is to respect pay go," writes Zelizer. Under an MMT budgeting framework, you would have much more protection against inflation risk, he adds.
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