Watch - Prof Kelton: "But How Will We Pay for It?"
Professor Stephanie Kelton of Stoney Brook University, addresses the question; How will we pay for it? The question that always gets asked when a new agenda item or policy is put forward by a government official. Inadvertently, the discussion always goes to the budget deficit. Prof Kelton's presents the view that the US deficit is not bad at all, by answering five questions; 1. What is the deficit? 2. What is national debt? 3. What about China? 4. Don't we eventually have to pay off the national debt? 5. What can we afford. Her 20 minute presentation is excellent, and it is no surprise that her views have recently risen to prominence, and probably will gather even more momentum.