Asking the Right Questions about Government Budgets

Below is the video from the latest session of the Modern Money and Public Purpose seminar at Columbia University, featuring Jan Kregel and Forbes‘ John Harvey.  The session touched on the sustainability of fiscal and trade deficits, why economists need to study accounting, the risks of paying down the government debt, the real meaning of “fiscal responsibility,” and the assumptions about the appropriate size of government that are sowing confusion in the budget debate.