The Debt Ceiling and America’s Stockholm Syndrome
Sadly, just like a hostage held captive for too long, much of the general public has bought into fundamentally flawed ideas.
Sadly, just like a hostage held captive for too long, much of the general public has bought into fundamentally flawed ideas.
It’s a simple solution, and not scary at all – unless you are one of the people behind the curtain trying to maintain the economic lies keeping you in power.
Understanding how federal finance works makes for better predictions and sensible policy.
Predictions of doom are really based on provisions in law that Congress can change at any time.
Remarks by L. Randall Wray at “The Treaty of Versailles at 100: The Consequences of the Peace”, a conference at the Levy Economics Institute, Bard College, May 3, 2019.