Stephanie Kelton: The big myth of government deficits

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Information Stephanie Kelton: The big myth of government deficits | TED

Title	:	Stephanie Kelton: The big myth of government deficits \| TED
Lasting	:	14.04
Date of publication	:
Views	:	420 rb

Never take monetary advice from someone who has none
Comment from : @MrJamesDolph

Government spending is always efficient and beneficial? Print trillions of dollars to keep inflation in check???? Never worry about the increasing debt interest to tax income ratio and potential debt spiral?? Spoken like a true politician! There really is no barrier to entry for these TED talks
Comment from : @dandicocco7782

凄い❗
Comment from : @長根和広

She cant explain inflation She's just explaining accountingbrbrThe real issue is that they over print money for things they want but doesn't say that the rich need to be taxed The system only works if we have a FLAT TAX WITH NO DEDUCTIONS
Comment from : @PepeSi7via

*M*oney Laundering, *M*akes, *T*rillions
Comment from : @RBGHfam

Thank god Trump is president not her From🇨🇦
Comment from : @GEDDY37

How can she call herself an economist? MMT is anti-economics
Comment from : @elrond7887

What's the TD;LR of this drivel? A $36T national debt is nothing to worry about?
Comment from : @dolbodolb6173

MMT is obviously the dominant economic philosophy worldwide, with America lunging everyone into fiat systems in the 1970s because we couldn’t trust the accounting in a gold back currency I don’t think I even need to write anything about this Right after this speech, we would see the greatest devaluation of currency in my lifetime, all a direct response from overprinting of money Monetary theory is obviously not something she believes in, but in reality we are living in proof that inflation is created in one place in one place only and that’s a federal reserve Just prior to this beach, federal government would release 40 of the dollars ever made, That’s why we’re battling this, and will be battling inflation for years
Comment from : @UrbanNaturalist

Economics: the “con” is built in This is your typical academic leftist nonsense
Comment from : @bayesian2007

The government should not have the right to be in debt What is this garbage? Deficits are additional money in the pool that drives down the value of currency
Comment from : @rafikhazaei

wow, TED has really gone downhill
Comment from : @ronno1202

Also by printing dollars and spending on people means increase in consumption of products developed by china People buy it and hand it over to big US businesses So in effect big businesses are enjoying
Comment from : @tahaali3603

I like the theory behind MMT, but I am not sure about accurate description of how FIAT currency actually works That is a little bit of a stretch to me Is she a Keynesian?
Comment from : @ibramed8277

interesting
Comment from : @terencenxumalo1159

Keynesian trash
Comment from : @shaunseiler9274

Inflation is the stealth tax And we only use the WORD "print" for lack of a better one Maybe we should say "Ala-kah-zam"! However you SAY it, it's the SAME THING! It's devaluation of the dollar It's inflation And yes, we got checksbut now our dozen EGGS are $700!!!
Comment from : @dianebeemartist9635

I truly hope she re-thinks this crazy position especially in light of the latest inflationary times 2025 WOW so dumb and scary
Comment from : @dviolinman

The be problem with this theory is this: the money the government creates to build bridges, ends up being used for stock buybacks instead So it has not gone into the economy nor benefitted the average worker, yet the average worker will be damaged by the inflation it causes and the effects of creating more money to eventually pay for the infrastructure that was never built Wages did not increase, bridges were not built but the wealthy simply kept the money Trickle down economics with no trickle down
Comment from : @klauszabel4593

Modern monetary theory: print to infinity
Comment from : @wiljam12345

This is BS As the deficit goes up a larger percentage of the government's money goes to pay the interest on that debt That money goes from the middle class through taxes to the wealthy and foreign countries who own that debt
Comment from : @forrestgill8310

This is as nonsensical as it comes Multiple reputable economists have issued take downs of Mrs Kelton's nonsensical claims They all make far more sense than "government can just create money in perpetuity with virtually no downside," which, quite honestly, only makes any sense at all if you either have no critical thinking skills, or, well, don't have any critical thinking skills
Comment from : @somniphile

For what appears to be the majority of commenters, economics and nation-state fiscal policy can never change as a study; no one can ever challenge how and why the word "deficit" is used, or whether there's a better way to think about government spending, something NO ONE can claim they weren't a beneficiary of, somehow (either directly or their employer) Folks simply will strictly adhere either to what they hear/have heard on social media, their tax accountant, or - for what is likely very few - the ecomonics classes they had in college that taughtt the same theories produced when countries were still on the gold standard A lot of MMT simply an explanation of the present , which I think gets lost in this thread - why both political parties, for a very long time, have come up with something to spend on, and both seemingly always find the money to do it - and we aren't Haiti She never said inflation doesn't matter - what she stated (in other videos, along with other economists) is that increasing the deficit doesn't in and of itself create runaway inflation br brThere have always been doom-meisters when it comes to government spending, and there always will be, but rarely do people calculate whether their paycheck would even exist without government spending
Comment from : @heimbatman4516

Not a single word about the growing interest rate burden, and creating new money to pay interest on the old money I think a few details are missing here
Comment from : @annettenpaul

We had a surplus in the past with a booming economy There is no reason to run a deficit
Comment from : @hermano5236

How this could fight currency devaluation and over inflation or even worse a deflation?
Comment from : @cegh4dim

yeah and it destroyed the entire economy
Comment from : @Thomasthetruthteller

The reason government debt is ballooning is to hide the shrinking western economies Is the standard of living of the average citizen in G7 countries improving or declining? Is their middle class growing or shrinking? Is wealth gap growing or shrinking? Debt spending is the rich, not wanting to pay taxes Are politicians rich or poor?
Comment from : @BryanRezendez

“Ideas” not worth spreading
Comment from : @inspemcontraspem

Soo, TED talks has gone full sellout to the billionaire class Print more money! Your kids and their kids, ad infinitum will try to keep up with the pay back and interest While you are stabbing your working class neighbor in the back, do try to keep interest rates down
Comment from : @teamwoodsmunk8620

Full Employment?brbrWith the increasing advances in AI and robotics, the traditional view of jobs is quickly eroding Generative AI is demonstrating that design, engineering, and even sone science can be accomplished by automation This technology will accelerate over the next few yearsbrbr"Jobs" will disappearbrbrI agree that the real economic problem is identifying/prioritizing what work really needs to be done (for the benefit of all in the system), and whether the resources necessary to do that work is accessiblebrbrMy disagreement is the objective of Full Employment We should be figuring out a new economic system that does not assume/depend on full employment - but rather how much of the work can be automated, and how to get volunteers for the remaining work We see this happening in churches/temples across the country: volunteers do the janitorial work, sound systems, publishing, etcbrbrPeople cannot assume availability of jobs, even if they wanted one - they will increasingly disappear Government should rather be looking to fund a Universal Basic Resource (as opposed to UBI), which includes basic lodging, food, healthcare, communication/education, and local transportation We have enough vacant buildings and surplus food that we can make this happenbrbrYou want more than basic resources - great! Innovate, create new technologies that improve people's lives - you get additional resources A more merit-based capitalism, rather than based on accumulated wealth/class
Comment from : @bobfree

Have you ever run a business or had a family budget? The higher the deficit the more we pay for interest and the less we have to pay for basic needs You are not an economist You are delusional I am amazed that anyone could stand up and spew this garbage Spending more and printing more money leads to out of control inflation
Comment from : @thomasfort2051

This woman needs to look into history She’s not worth a Continental
Comment from : @chrisblock6697

horrible explanation governments don't create money out of thin air, they create money out of treasury bonds that promise to pay the buyer of the bond with interestits a loan, not an act of creationits creating debt, plain and simple
Comment from : @mahadevankalyanraman1909

Commie propaganda in actionbrThey probably taxed you 100,000, “lost” 90,000 of it, and paid her $10,000 of it to shill what she’s trying to sell you
Comment from : @userumbleandgettr4freespee501

Why do some private "zombie" corporations get away with deficit spending ( refinancing their debts ) until they are allowed to die b/c investors give up? These preferred "zombies" are allowed/supported to continue BUT NOT our Gov't? WTF? Guess what? Our Gov't's money is financed by private investors just the SAME as zombie corporations that will never be solvent? They just keep borrowing as long as they can brbrBut our US dollars should never be PRIVATIZED, like zombie corporations We can print more dollars forever as long as we all agree to use those paper or digital dollars The Monopoly game never has to end Keep printing paper/digital dollars forever as we need thembrbrSTOP favoring private zombie companies!!!!! Start favoring all Americans Forever
Comment from : @herbfisher1093

Thank you!! brPlease have a look to countries who had to re-build everything after WW2 eg Germany and France - two slightly different ways and I suppose the USA to be closer to German mentalitybrI am French and eg France choose to install a global healthcare and retirement system in 1946 because we discovered that before this war some 1 upon 40 million of our citizens were ill, at the point we could not put them in nearly any job (to replace young men going to war in 1939) br"Necessity makes a law" and even sometimes the lawbrMargaret Thatcher had the mentality of a grocer - a good shop keeper (would Napoleon had said) It's not enough, to rule a country which is in crisis, because you can indeed shut down the curtain of a disfunctional shop but not a country People don't switch off an you can't put them in a carton in the attics
Comment from : @deck614

Yea, just spend American currency which as today over half the globe has rejected - days a little bit about how the globe feels about worthless American paper
Comment from : @mikeroy9316

I didn't see any homeless people get any checks I did see serval checks in the billions get sent across the seas tho
Comment from : @Phillip-k4u

This woman is out of her mind! Look at Greece, Argentina, and others with fiat currency that experienced hyperinflation because of printing money excessively The USA is heading that way
Comment from : @wolfrh1

Did not expect a click bait title from Ted
Comment from : @aleb687

GOVERNMENT in 2020 caused the inflation we have TODAY--5 January 2025! She talks like a government apologist
Comment from : @edwarddemedeiros3607

What a complete shill! She can’t possibly believe the nonsense she is speaking given the demonstrable historical evidence to the contrary!
Comment from : @markham56

Am I missing something here isn't the current inflation cause enlarged part by printing too much money It seems to me that her logic is flawed and that the finances of a country are indeed similar to the finances of a house our national debt is way too high now and the cost of paying the interest is a large part of our expenses every year brYou don't have to be an economist to see that
Comment from : @jonnash5196

OK let's take this to it's logical conclusion brNobody need work brGovernment sends each person a check each month to pay their expenses brLet me know how that works out for you
Comment from : @carlsoholt5265

"And the budget will balance itself "brJustin Trudeau
Comment from : @carlsoholt5265

The thing I don’t understand is why we have been spending so much money on defense contractors That is the majority of all of the deficits while same time conservative thought tells us that we should not be excepting the deficits the same conservative thought is talking on the other side of its mountain and promoting huge expenditures and defense contractors, it’s about time to start thinking about spending all those dollars on the average citizen is being saddled with this stuff more and more Yet she mentions nothing about all that money That’s why I’m suspicious It’s the elephant in the room
Comment from : @Modorange322

Making up a term (MMT) to legitimize your pseudoscience doesn't make you intelligent or correct Of course there are some truths here, but extremely short-sighted What is conveniently left out is that deficits add up to debt, and debt forces inflationary money creation to pay for the interest on that debt Inflationary, because it is currency injected in to the economy which is not balanced by the creation of a good/service This becomes a positive feedback loop for inflation, and reduces the controllability of inflation The US spends (or manufactures, more accurately) more federal dollars on debt interest than on military budgets now When does it lose control of the debt spiral?
Comment from : @641pjensen

She’s so theoretical it hurts
Comment from : @JL-qf3hq

This is an insane policy of government spendingbrWe pay interest on the debt, the more we borrow, the more we pay How is that sustainable? We can’t just keep printing money, and issuing treasury bills to cover the debt We have tp pay interest on that debtbrShe never mentions this fact She’s wrong
Comment from : @kennethkaminski3438

How is this woman an ecconomist 🤦‍♂️
Comment from : @tobyheil8880

We hired a government by the people for the people A lot of people don't understand even close the government's economy The political will of one party is to act and to be the government for the people while the other one breeds greed by hiding it behind tax cuts, cutting much-needed government services etcetera etcetera etcetera etcetera etcetera This country is growing and it's growing fast and you do not deplete this You try to install a consistent method of Revenue to fund this government for the people Fairness, morality, equality and Common Sense After a while these Revenue become consistent and very manageable, it's a budget which can lead to many more financed needs of this country and its people
Comment from : @James-xg1pr

Her point of view is: we can print as much as we want, and people will collect it and still accept the fact that the currency is losing its value As long as we still pointing our gun to their face forcing them use our currencybrBut you know that's not how the world works; we point our gun to almost all continents and they are de-dollarizing fasterbrAlso, the fact that inequality is something she don't take into account Because each time the government do QE, the inequality get a dose of steroid Inequality eventually will get the empire into collapse, which happened all the time in historybrInflation would never be a problem if the salary keeps up with it, but because of inequality, that never happenbrHer theory only works if the government come up with an idea to solve inequality
Comment from : @thuminh-hv2me

The comments on this thread are unbearably ignorant So many with degrees from YouTube University
Comment from : @rubberbaby00

No, instead we put a moron in charge of our country Trump
Comment from : @rrubruce

We’re entering an era in which more young productive educated people spend their lives performing for TikTok than working on government mandated projects
Comment from : @islandmonusvi

Ironically…when in comes to war and military adventurism, there’s NEVER a debate as to the deficit financing In fact to get citizens to buy-in the politicians cut taxes on the rich and their corporations with a nimble for the people
Comment from : @islandmonusvi

What planet is she from?brmine is Earth
Comment from : @Russellviews

Did she go to Upstairs Bernie Madoff Economics School? My taxes went up and the taxes continue to climb despite stagnant income Steph, I don't have personal debt
Comment from : @indiecomicsjones

Yes, the government did a lot of extraordinary things due to the government causing the extraordinary problem in the first place Gotta love the government What sort of idiot would not trust it to create as much money as it wants whenever it wants ? !!!
Comment from : @philwrichtube

Budget Deficit $$ are benefits for Wall Street banking cartel
Comment from : @anthonytran8627

Modern Monetary Theory is as old as the hills - maybe older The Big Lie is: no one has to pay for it, we just agree to spend more and money magically happens
Comment from : @garylrau

Considering how much the value of the dollar has deflated over time, is the dollar 'value' amount of the current deficit really comparatively that large from what it has been?
Comment from : @RobertL-ct9np

BS The most misleading TED video I have watched
Comment from : @Edu-hx9sz

And there you have it, kids--economics, as explained by your four year old
Comment from : @SK-cb9yu

So wrong The problem is not deficit spending It is the lack of prioritization If you fail to prioritize, you say yes to things you shouldn’t say yes to That is why we need discipline in spending You advocate for removing a limit, which leads to government overreach
Comment from : @stevetownsend6556

I can’t believe this woman calls herself an economist
Comment from : @djp979

Yet another TED talk that takes a one-sided over simplification of a very complex issuebrMMT works only for counties that are currency autonomous and who are all doing the same thing (ie: running deficits, and issuing new currency to pay for it)brFurthermore, the issuing of new currency, which is the major cause of inflation, is made available firstly to the top 1 brBy the time the money trickles down to the rest of us, any serious investment gains that could be made have already been squeezed out by the whales
Comment from : @bandolin1216

She’s another Big Government Democrat supporter
Comment from : @peredavi

inflation is a product of government
Comment from : @carolynedunsford6582

Now, in December 2024, inflation has come back down to reasonable levels That is: 2 to 2½ Unemployment is also low All while running large federal deficits Despite federal interest payments at record levels It is indisputable that federal spending fuels the economy If we can have federal deficits without high inflation or high unemployment or damaging our creditworthiness, why wouldn’t we? To do otherwise is completely nonsensical
Comment from : @snark907

So we never have to pay off our federal debt? I wish she’d explain that
Comment from : @MichaelShellGLPA

It all sounds so wonderful but printing money to pump it into the economy no matter how perceived beneficial it is, ramps up inflation and often leads to an increase to a widening gap between the rich and poor
Comment from : @brianwilson4592

A wonderful example of academic idiocy
Comment from : @davidhulse4596

Since we lack responsibility and cannot manage budgets, they create a new economic theory that makes debt legitimate But it is only good for government and con artists
Comment from : @RonaldGravois

This is the most dangerous TED talk in history…
Comment from : @drrouzbeh

3:47 this did not age well… government budgets do work like households budgets The bills always come due Inflation always rises when too much money floods the economy Interest rates always rise and fall to keep the supply under control Possible the most tone deaf Ted talk I’ve ever listened to
Comment from : @johnwilliams1091