Episode 252 - Does MMT End the "Debt Ceiling" Debate? (w/ Stephanie Kelton)
Bad Faith
Bad Faith
4.5 • 2.8K Ratings
🗓️ 16 February 2023
⏱️ 68 minutes
🧾️ Download transcript
Summary
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Briahna got tons of feed back on the Richard Wolff episode about the debt ceiling debate from Modern Monetary Theory heads who objected to Wolff treating the US economy like a household budget. So Briahna asked the foremost MMT economist & author of "The Deficit Myth," Professor Stephanie Kelton, on to explain what the left's approach to the debt ceiling discourse should be in her view. Also, Professor Kelton, who advised Senator Sanders in 2020, talks about her frustration with Bernie's reliance on "pay for" rhetoric, and argues that the left can't avoid teaching the public about MMT forever.
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Produced by Armand Aviram.
Theme by Nick Thorburn (@nickfromislands).
Transcript
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| 0:00.0 | I'm |
| 0:02.0 | M. |
| 0:03.0 | M. |
| 0:04.0 | M. |
| 0:05.0 | M. |
| 0:06.0 | . |
| 0:07.0 | M. |
| 0:08.0 | A |
| 0:10.0 | Fy |
| 0:16.0 | . I could not be more excited for today's. |
| 0:36.6 | I could not be more excited for today's guest. |
| 0:40.2 | I've been wanting to get her on the podcast forever. |
| 0:43.1 | You know her as the leading expert on modern monetary theory, |
| 0:47.1 | author of the Deficit Myth, Professor Stephanie Kelton. |
| 0:50.7 | Welcome to Bad Faith Podcast. |
| 0:52.8 | It's really nice to be with you. Thank you. |
| 0:55.8 | Okay. So the reason we're here today primarily is because I have gotten feedback. Apparently, |
| 1:01.7 | you have gotten some feedback as well about an episode I did recently with Professor Wolf about |
| 1:07.4 | the economy, about the deficit, about the fiscal cliff and Republican threats to hold up the economy, or a threat that they will not raise the debt ceiling unless they make some significant cuts to Social Security and other so-called entitlement programs. |
| 1:23.8 | And we had this hour-long conversation that felt substantive and interesting, although it completely |
| 1:29.6 | sidestepped the issue of modern monetary theory and this idea that is very popular and broadly |
| 1:37.8 | embraced on the left, that it is wrong to treat our national deficit like a household budget. And that engaging in that |
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