We must embrace a new way of thinking about government spending from "summary" of The Deficit Myth by Stephanie Kelton
The prevailing wisdom about government spending is deeply entrenched in the minds of policymakers and the public alike. For decades, we have been conditioned to view government deficits as inherently bad, something to be avoided at all costs. The conventional narrative tells us that deficits are a sign of fiscal irresponsibility, a burden that will be passed on to future generations. But what if this narrative is fundamentally flawed?The truth is that government deficits are not inherently good or bad. They are simply a reflection of the government's fiscal stance at a given point in time. Deficits are neither inherently good nor bad; they are simply a tool that can be used to achieve certain policy goals. This is a powerful shift in perspective, one that has the potential to fundamentally change the way we think about government spending. By viewing deficits as a tool rather than a burden, we open up a world of possibilities for how we can use government spending to improve the lives of our citizens. We can invest in infrastructure, education, healthcare, and other vital public services without worrying about the size of the deficit. ...
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