After a look at the news and the latest Green News Report, we turned to today's guest, STEPHANIE KELTON . She's an economist, an expert in Modern Monetary Theory and the author of The Deficit Myth: Modern Monetary Theory and the Birth of the Peoples Economy.
While the Republicans keep screaming about the deficit, you must remember they only do that when Democrats are in charge. When a Republican is in the White House and when they also control Congress, they spend like it's going out of style.
Well, Stephanie explains that "every deficit is good for someone." She says: "Don’t run away from the word deficit. In financial terms, the other side of their deficit lies a financial surplus in some other part of the economy. The question is for whom? Who is getting it? And for what? Are we using the deficit to make investments in critical infrastructure and R&D? Fighting climate change, paying for education...doing those sorts of things? Or are we using the deficit simply to deliver a windfall for people in our society who least need the help?”
So the Republican talking points about things being too expensive are just that, talking points...