Democratic economist: US should run deficits without debt — Felix Salmon interviews Stephanie Kelton

Summary:
We don't need no stinkin' (government) debt. Issuing government securities that pay interest to offset deficits is not necessary operationally under the current floating rate monetary regime. Paying interest to park wealth in a "safe asset" constitutes a government subsidy for savers. Not being necessary operationally, it can be argued that it is wasteful unless it serves public purpose.AxiosDemocratic economist: US should run deficits without debt Felix Salmon interviews Stephanie Kelton See alsoAxios (2 Mar 2020)Inside the Bernie economyDion Rabouin

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