The big myth of government deficits | Stephanie Kelton
TED Business
00:00
Government Deficits Are Good for Some One
When the government spends more than it taxes away from us, it makes a financial contribution to some other part of the economy. Tax cuts that deliver huge windfalls for those at the top don't make good use of deficits. On the other hand, spending trillions to support the economy during the pandemic put the deficit to good use. Being responsible shouldn't mean running the government's finances like a household.
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