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Economist Stephanie Kelton on the Debt Limit, a Potential Catastrophe We’re Risking for No Reason

Deconstructed

CHAPTER

The Deficit Myth

Sally Kohn: The Democratic Party's story makes no sense to any human being. She says the federal government doesn't work like a household budget, and that's what's so maddening when Speaker McCarthy talks about its finances as if they are our own personal finances. We're not on a gold standard anymore; we have a sovereign currency with floating exchange rates, she says. And every household knows you can't do that tapping into that money he's just like we are in this case.

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