Politicians, economists, bankers, philosophers and other citizens have been arguing about the deficit and the national debt.
I have posted numerous comments and links to articles on my Twitter account and on my WordPress blog. I only took few courses in economics and Game theory. So, I cannot take a definite position on this matter.
I can only ask…
(a) should a nation avoid deficit spending?
(b) should a nation engage in deficit spending and, if engaging, how much national debt is too much?
Here’s a video clip of Simon Johnson presenting the findings of his latest book, White House Burning: The Founding Fathers, Our National Debt, and Why It Matters to You, at an event hosted by the Peterson Institute on April 9, 2012. Coauthored with James Kwak, the book provides a comprehensive analysis of the current US fiscal problem and offers proposals for effective policy response.
Simon Johnson teaches at the Massachusetts Institute of Technology and is a former chief economist at the International Monetary Fund.
Simon Johnson Blog http://baselinescenario.com/
Book : White House Burning: The Founding Fathers, Our National Debt, and Why It Matters to You