This is a good video from Jon Krajack, exploding the myth that government debt and deficits are a problem. If you follow it to the end you’ll discover that without government deficits there would be no private sector surplus – no savings for you and me, no spare money for business investment. You’ll also find out that government debt isn’t a burden on future generations because it can be paid off by shifting money inside the central bank, which has zero cost for the rest of us.

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