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dc.contributor.authorNersisyan, Yevaen_US
dc.contributor.authorWray, L. Randallen_US
dc.description.abstractThis brief by Yeva Nersisyan and Senior Scholar L. Randall Wray argues that deficits do not burden future generations with debt, nor do they crowd out private spending. The authors base their conclusions on the premise that a sovereign nation with its own currency cannot become insolvent, and that government financing is unlike that of a household or firm. Moreover, they observe that automatic stabilizers, not government bailouts and the stimulus package, have prevented the US economic contraction from devolving into another Great Depression. The authors dispense with unsubstantiated concerns about deficits and debts, noting that they mask the real issue: the unwillingness of deficit hawks to allow government to work for the good of the people.en_US
dc.publisherLevy Economics Institute of Bard College Annandale-on-Hudson, NYen_US
dc.relation.ispartofseriesPublic policy brief // Jerome Levy Economics Institute of Bard College 111en_US
dc.titleDeficit hysteria redux? Why we should stop worrying about US government deficitsen_US
dc.typeResearch Reporten_US
Appears in Collections:Public Policy Briefs, Levy Economics Institute of Bard College

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