We’re Not Broke and the Clinton Surpluses Destroyed the US Economy

Two of our nation’s most influential progressive journalists — Slate’s Matt Yglesias and Business Insider’s Joe Weisenthal —  just took on two powerful economic myths.

1. The Myth that The US Government is Out of Money

2. The Myth that A Government Surplus is  a Sign of Fiscal Responsibility

It’s hard to imagine a more empowering message.  As word spreads, elected officials in both parties will lose their primary excuse for inaction on on a whole range of neglected and underfunded programs.  “I’d love to help, but I’m all tapped out,” simply won’t sell.

Nor will the desperate calls for “shared sacrifice” and “entitlement reform” in the name of fiscal responsibility.

A very big thank you to these men, who will undoubtedly suffer the slings and arrows of many of their progressive followers, who have long considered the Clinton surpluses the crowning achievement of modern Democratic governance.

About Stephanie Kelton 24 Articles

Affiliation: University of Missouri

Stephanie Kelton, Ph.D. is Associate Professor of Economics at the University of Missouri-Kansas City, Research Scholar at The Levy Economics Institute and Director of Graduate Student Research at the Center for Full Employment and Price Stability.

Her research expertise is in: Federal Reserve operations, fiscal policy, social security, health care, international finance and employment policy.

Visit: Economic Perspectives

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