What Is Modern Monetary Theory?

Should you be worried about the federal deficit? While campaigning, President Trump followed in the footsteps of his conservative predecessors by fear-mongering about the ballooning deficit but when he got to the White House that concern seemed to disappear when it came to his tax cuts for the rich and increased government spending. In fact, there’s a pattern to the Republicans’ selective concern about increasing the deficit, and it all depends on who holds the power. When you look at the behavior of people in politics, they don’t really care about the national debt as much as they like to talk about it. So what does their bad faith use of the deficit tell us about how important that number actually is? Stephanie Kelton is here to break it all down - the national deficit, the nature of money itself, federal spending, and why it’s time to stop comparing it to a household budget.
Email us at WITHpod@gmail.com
Tweet using #WITHpod
Read more at nbcnews.com/whyisthishappening