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@WaffleStreet @StephanieKelton @dccc Your tweet contains a number of problematic assumptions. First, if bondholders decide to consume when the economy is far from full employment, then there’s no reason to raise taxes on account of it. Second, even at full employment, there’s no reason to think that the taxes
@WaffleStreet @StephanieKelton @dccc needed would be 1-for-1 equal to either the debt or the interest. Third, this is really not different than if we just “printed money.” And 4th, it doesn’t make sense to avoid full employment now on account of fear that we might someday be at full employment.
@WaffleStreet @StephanieKelton @dccc You might want to read up on your Lerner. He covered all these issues 80 years ago. modernmoneynetwork.org/sites/default/…
