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I cannot be more excited for today's guest.

I've been wanting to get her on the podcast.

Forever you know her as the leading expert on modern monetary theory author of the deficit

myth, Professor Stephanie Kelton.

Welcome to Bad Faith Podcast.

It's really nice to be with you.

Thank you.

Okay.

But the reason we're here today primarily is because I have gotten feedback.

Apparently you have gotten some feedback as well about an episode I did recently with

Professor Wolf about the economy about the deficit about the fiscal cliff and Republican

threats to hold up the economy or threat that they will not raise the debt ceiling unless

they make some significant cuts to social security and other so called entitlement programs.

And we had this hour long conversation that felt substantive and interesting, although

it completely sidesteped the issue of modern monetary theory and this idea that is very

popular and broadly embraced on the left that it is wrong to treat our national deficit

like a household budget and that engaging in that particular narrative is not only wrong,

but it's potentially harmful and so far as it furthers a political approach that basically

sets us up again and again to be threatened with cuts to significant social programs because

people weaponize the idea that we have to just get the budget under control.

...