Debt & Deficit

Thomas Edison on Government Created Debt-Free Money
“But here is the point: If our nation can issue a dollar bond, it can issue a dollar bill. The element that makes the bond good makes the bill good… If the Government issues bonds, the brokers will sell them. The bonds will be negotiable; they will be considered as gilt edged paper. Why? Because the government is behind them, but who is behind the Government? The people. Therefore it is the people who constitute the basis of Government credit. Why then cannot the people have the benefit of their own gilt-edged credit by receiving non-interest bearing currency… instead of the bankers receiving the benefit of the people’s credit in interest-bearing bonds?”
— Thomas Edison in the NY Times Sept 2000


Stephanie Kelton addresses five commonplace myths of the US economy: What is the deficit? What is the national debt? What about China? Don’t we eventually have to pay off the national debt? What can we afford? — Oct 15, 2018 (9:50)

The Explicable Mystery of the National Debt
— J.D. Alt (J.D. Alt) New Economic Perspectives

Majority Report with Sam SederThe Debt Crisis is a Myth & Modern Monetary Theory w/ Stephanie Kelton @SamSeder (58:07) Sept 26, 2017

Deficit Delusions: Putting to Rest the Clinton Legacy
— Dean Baker (@DeanBaker13) Center for Economic and Policy Research 29 January 2013

Coin Seignorage and Inflation
— Scott Fullwiler (@videotroph) New Economic Perspectives Aug 1, 2011

Coin Seigniorage: A Legal Alternative and Maybe the President’s Duty
— Joe Firestone (@joefirestonephd) New Economic Perspectives July 18, 2011

Coin Seigniorage and the Irrelevance of the Debt Limit
— Beowulf ShadowProof (@shadowproofcom) Jan 3, 2011