Debunking deficit myths (with Stephanie Kelton)
Pitchfork Economics with Nick Hanauer
00:00
Do We Need to Worry About Deficits?
CNN's Fareed Zakaria: Do we need to worry about the federal deficit and debt? He says he views it as a historical record of past deficits where government spent more money into economy than subtracted out. Zakaria: Not all deficits are created equal; some deliver broad-based benefits for most people who are struggling, while others serve interests of those already doing extraordinarily well. The wealthiest 1% of Americans have gotten about $20 trillion richer at exactly the same time the federal deficit has grown by about $ 20 trillion.
Transcript
Play full episode
