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This is a short video summarizing the paper r And (better) section 6.4 Fiscal Theory of Price Level. Does the low interest cost of debt mean that the government never has to repay it? If the government does not have to pay the debt, why do we citizens still have to pay the debt? Let the government borrow money to pay off our student, mortgage and car debts. Let it send us checks and we can stop working, stop paying taxes, and just order things from Amazon. Well. Something is wrong here…
The main points. We have a major deficit of 5% of GDP, and it will be even larger. ?r
Tribute to Hoover Policy editor team(This video on their website, And other materials), especially Shana Farley and Tom Church, who managed to reduce a complex subject to an understandable video. The animation is impressive. Yes, the speaker needs acting lessons (1.25 is much better) and a haircut. next time…
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