by Summary:
One thing that is clear: the modern national debt does not function just like a household debt, which is how it was sold as a campaign issue by the deficit hawks who pretended to care about deficit spending before Trump was elected. More national debt is not “bad” under any and all conditions, and less is not “good” under any and all conditions. It really depends on what you’re doing with the money.... Not all economists agree on when the next recession will hit. They almost all do agree, however, that when the next recession does come, we will need to counter it with a massive fiscal response. According to many economists, taking on more debt to do this is not going to be a problem. Above the Law National Debt No Big Deal? More Economists Unconcerned With Trillion-Dollar Government
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Mike Norman considers the following as important: MMT
This could be interesting, too:
One thing that is clear: the modern national debt does not function just like a household debt, which is how it was sold as a campaign issue by the deficit hawks who pretended to care about deficit spending before Trump was elected. More national debt is not “bad” under any and all conditions, and less is not “good” under any and all conditions. It really depends on what you’re doing with the money.... Not all economists agree on when the next recession will hit. They almost all do agree, however, that when the next recession does come, we will need to counter it with a massive fiscal response. According to many economists, taking on more debt to do this is not going to be a problem. Above the Law National Debt No Big Deal? More Economists Unconcerned With Trillion-Dollar Government
Topics:
Mike Norman considers the following as important: MMT
This could be interesting, too:
Mike Norman writes Jared Bernstein, total idiot. You have to see this to believe it.
Steve Roth writes MMT and the Wealth of Nations, Revisited
Matias Vernengo writes On central bank independence, and Brazilian monetary policy
Michael Hudson writes International Trade and MMT with Keen, Hudson
One thing that is clear: the modern national debt does not function just like a household debt, which is how it was sold as a campaign issue by the deficit hawks who pretended to care about deficit spending before Trump was elected. More national debt is not “bad” under any and all conditions, and less is not “good” under any and all conditions. It really depends on what you’re doing with the money....
Not all economists agree on when the next recession will hit. They almost all do agree, however, that when the next recession does come, we will need to counter it with a massive fiscal response. According to many economists, taking on more debt to do this is not going to be a problem.
Above the Law
National Debt No Big Deal? More Economists Unconcerned With Trillion-Dollar Government Deficits
Jonathan Wolf is a litigation associate at a midsize, full-service Minnesota firm. and adjunct writing professor at Mitchell Hamline School of Law