You really should watch this
If you want a good primer on what Government Budget Deficits are, where our money comes from, watch this talk by Stephanie Kelton. If you are under the impression that the US government is 'broke', you should watch this. If you are under the impression that 'There is no alternative' to austerity, you should watch this. It is 45 minutes very well spent.
I offered up some thoughts on economic policy and stability in Section 6 of this post.
Why You and I Can't Spend More Than We Bring In, but the Government Can - and Probably Should
Watch Stephanie Kelton explain why TINA falls apart as justification to tolerate unemployment once we understand the relationship between the United States and her currency. The lecture took place at Luther College in beautiful Decorah, Iowa on September 28, 2011. Note: if you would like to see the handout featured in the video click here.