Deficit terrorist #1 David Walker of the Peterson Institute states to host Mike Norman there is no solvency issue!
Posted by WARREN MOSLER on April 20th, 2009
The Center of the Universe
St Croix, United States Virgin Islands
MOSLER'S LAW: There is no financial crisis so deep that a sufficiently large tax cut or spending increase cannot deal with it.-
MMT: Taxes function to regulate aggregate demand, and not to raise revenue per se.
Warren’s Book:
Buy it or read it free online!
"The most important book ever written" -Elizabeth O'ToolRecent Posts
- uh oh…
- NY Fed: How Are American Workers Dealing with the Payroll Tax Hike? – Liberty Street Economics
- Homebuilder Confidence in U.S. Climbs as Outlook Improves
- doesn’t look like much of a housing recovery- purch app’s down
- mtg prch apps fall
- CBO Updated Budget Projections: Fiscal Years 2013 to 2023
- MEMMT activist tour June 10-23
- GDP nominal and real, year over year
- Retail Sales year over year
- REINHART: Regarding Hilsenrath//+ Retail Sales
-
The funds to pay taxes and buy government securities come from government spending.
Subscribe To:
Links
Internet Life
April 20th, 2009 at 1:56 pm
i cannot read anything
the embedding is not showing up
Reply
warren mosler Reply:
April 20th, 2009 at 3:53 pm
It’s an audio
Reply
April 20th, 2009 at 3:37 pm
Recently released IMF analysis (via Telegraph) indicates that federal debt/GDP ratios in excess of 60 percent tend to become deflationary black holes.
“The impact becomes negative for debt levels that exceed 60pc of GDP,” said the Fund.
http://animalspiritspage.blogspot.com/2009/04/america-close-to-tipping-point.html
Reply
April 20th, 2009 at 4:27 pm
What did the guy say afterword?
Reply
April 20th, 2009 at 5:06 pm
walker agreed there was no solvency issue
Reply
June 23rd, 2010 at 7:40 pm
[...] David Walker’s recording is here. [...]