Given the still historically low employment rates for 25–54 year-old men*, with glaring human and physical infrastructure problems (e.g., roads, schools, research), and ridiculously low inflation rates, we need to stop worrying about ‘how to pay for it’–that is, balanced budgets.
It’s alright to run a deficit at the federal level, especially in light of the employment and wage deficits. We have people who need jobs and stuff to be built (and repaired). That should be the priority, not the ‘New Democrat’ fetish for balanced budgets–which, by the way, didn’t work out so well for a lot of households.
Insider subtweet: I would rather have Stephanie Kelton advising the next president, as opposed to some Goldman-Sachs/Citibank Center for American Progress retread. Just saying.
*I use men, since expectations and roles of women regarding work have not been constant, whereas able-bodied men 25 – 54 have always been expected to work.
mikethemadbiologist
If anything, we seem to be entering a deflationary period, if commodity prices are any indication. So there’s an even stronger case for lots of counter-cyclical spending — hopefully on something more productive than F-35’s and aircraft carriers.