Video link https://www.youtube.com/watch?v=DNCZHAQnfGU&feature=emb_title https://www.youtube.com/watch?v=WS9nP-BKa3M&feature=emb_title
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Stephanie Kelton on Twitter: "This is the problem with tunnel …
Next, go to U.S National Debt Clock and review the data at that site.
Next, watch this short exchange between Paul Ryan and Alan Greenspan (Former Chair of the Federal Reserve): Greenspan tells Paul Ryan that Social Security cannot go broke, the problem we need to worry about is having enough real resources for retired people to purchase with the social security dollars created by the government.
- What does Alan Greenspan say about creating dollars? What are the assets Alan Greenspan is talking about?
- What is the typical political narrative about the national debt? Provide examples about the political narrative from the beginning of Stephanie Kelton's lecture or from additional news research (provide links). What does Stephanie Kelton say about the debt?
- What is the biggest mistake in our thinking about the debt according to Stephanie Kelton? Why is the government budget different from a household budget. Why is deficit spending different from household spending?
- What are the 5 big questions and their answers? List and describe each separately.
- What did you learn about the graphs above from Kelton's lecture? Why do we need government deficits?
- What policies do you think are more important than the question of how we will pay for it? Think big. How should the U.S. be using our labor and natural resources? Pick at least two big social or political issues that you care about or that affect your family. Remember: The question is not how we pay for it, but how we resource for it.
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