If you have time, check out this free PDF book.
I know, reading's not fun. However, it's short (117 pages) and so interesting that it doesn't take long. I read the whole thing in about an hour.
I don't know if he's right or wrong, but he sure raises some questions that really make you think about the "big picture" and how things really work with the economy.
SEVEN DEADLY INNOCENT FRAUDS OF ECONOMIC POLICY by WARREN MOSLER
http://moslereconomics.com/wp-content/powerpoints/7DIF.pdf
Quote:
Seven Deadly Innocent Frauds of Economic Policy
1. The government must raise funds through taxation or borrowing in order to spend. In other words, government spending is limited by its ability to tax or borrow. 2. With government deficits, we are leaving our debt burden to our children. 3. Government budget deficits take away savings. 4. Social Security is broken. 5. The trade deficit is an unsustainable imbalance that takes away jobs and output. 6. We need savings to provide the funds for investment. 7. It’s a bad thing that higher deficits today mean higher taxes tomorrow.
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