Stop Worrying About National Deficits

Governments around the world have spent unprecedented sums — trillions of dollars — to combat the economic impacts of coronavirus. In the United States alone, the national deficit surpassed $3 trillion this year. But just what does rising government debt mean for our future? Are deficits the bogeyman they've been made out to be, or will rising debt undermine our economic future? FOR THE MOTION: James Galbraith - Professor of Public Affairs & Former Executive Director, Congressional Joint Economic Committee Stephanie Kelton - Economist & Author, "The Deficit Myth" AGAINST THE MOTION: Todd Buchholz - Former White House Director of Economic Policy & Author, "The Price of Prosperity" Otmar Issing - Former Chief Economist, European Central Bank This episode of “That’s Debatable," is presented in partnership with Bloomberg Media and sponsored by IBM. Submit your argument for the next debate at ibm.com/debatable.