Should Congress cut entitlement programs to combat rising deficit?
Maya MacGuineas, Committee for a Responsible Federal Budget, and Wall Street Journal editorial page deputy editor James Freeman discuss America’s deficit problem and how President Trump asked members of his Cabinet to cut their departments’ budgets by 5 percent.
My friend Dylan from the Volitional Science Network interviews me to discuss Modern Money Theory and why it is so dangerous to "balance the federal budget".
It is typical for conservative administrations to attempt to practice "sound economics" by balancing the budget. However, the rules for economy function differently with the federal government than they do for the rest of us. I use MMT to describe what's going on in the current economy.