Through illuminating insights about government debt, deficits, inflation, taxes, the financial system, and financial constraints on the federal budget, Kelton dramatically changes our understanding of how to best deal with important issues ranging from poverty and inequality to creating jobs and building infrastructure. Everything that both liberal/progressives and conservatives believe about deficits and the role of money and government spending in the economy is wrong, especially the fear that deficits will endanger long-term prosperity. We've been thinking about government spending in the wrong ways, Kelton argues, on both sides of the political aisle. 'Any ambitious proposal - ranging from fixing crumbling infrastructure to Medicare for all or preventing the coming climate apocalypse - inevitably sparks questions: how can we afford it? How can we pay for it? Stephanie Kelton points out how misguided those questions really are by using the bold ideas of modern monetary theory (MMT), a fundamentally different approach to using our resources to maximize our potential as a society. The Deficit Myth: Modern Monetary Theory and the Birth of the People’s Economy, Stephanie Kelton. But, Kelton explains, a country that borrows in, and has a monopoly in printing, its own currency, simply cannot unintentionally go broke. The Deficit Myth: Modern Monetary Theory and the Birth of the People's Economy by Stephnie Kelton

The deficit myth stephanie kelton