Debunking deficit myths (with Stephanie Kelton)
Pitchfork Economics with Nick Hanauer
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Is the Federal Government Running a Deficit?
A fiscal deficit, a government deficit, works kind of like a blower. When the government's budget is in deficit, dollars are being emitted and they're going somewhere. The flip side to that is that if the government runs surpluses, it means that the private sector is running a deficit. So this way of viewing federal budgets for governments like the US who have a sovereign currency raises several deficit myths.
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