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Stephanie Kelton presenting on Fiscal Cliff

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November 14, 2012 – Comments (4)

This is an extremely good presentation. It succinctly puts budget deficits in the proper context. 19 minutes of your time well spent.

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Stephanie Kelton presenting on Fiscal Cliff
Clipped from:2013 Budget and the Fiscal Cliff
Nov 13, 2012


Stephanie Kelton's presentation on the Fiscal Cliff with New America Foundation / Economic Growth Program / Economists for Peace and Security

http://www.c-spanvideo.org/clip/4161813&setThumb#clipThumbnails

(sorry, video is not embedable)

4 Comments – Post Your Own

#1) On November 14, 2012 at 4:17 PM, ChrisGraley (29.65) wrote:

LOL, you had me until she said the key to everything is for the goverment to spend more money.

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#2) On November 15, 2012 at 1:34 PM, PeteysTired (< 20) wrote:

I got lost when she put up the graph saying something to the effect that when the deficit went down in the Clinton years and the govt ran a surplus it was followed up by a recession. She said that happened 4 other times...something like that. 

To my understanding the Fed gov't didn't spend less to cause a surplus.  The surplus was caused by more tax revenue.  The recession happened when the debt fueled euphoria (which paid the excess taxes) came to a halt.  I don't see the correlation, but I am not very bright.

 

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#3) On November 15, 2012 at 3:18 PM, Melaschasm (57.04) wrote:

The USA has not had a year over year reduction in spending since before the Great Society programs were created, and have not had a two year reduction in spending since the aftermath of WW2.

The idea that spending cuts have hurt the USA economy during the modern era is a lie. 

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#4) On November 15, 2012 at 9:36 PM, ETFsRule (99.94) wrote:

"The USA has not had a year over year reduction in spending since before the Great Society programs were created, and have not had a two year reduction in spending since the aftermath of WW2.

The idea that spending cuts have hurt the USA economy during the modern era is a lie. "

^^^

This argument is not a direct response to anything that she actually said in the video. It is as if you ignored the video, and instead responsed to an entirely different argument that you feel more comfortable responding to.

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