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Robert Reich Debunks Republican Deficit Hawks (Video)

Former Secretary of Labor Robert Reich has a new economics teaching video. As Congress begins to devise a new budget, Reich targets the myths of austerity – so that you won’t be fooled by political rhetoric.

Austerity 101

3 Deficit Spending Principles You Need to Know

  1. Deficits are meaningless, except as % of GDP.
  2. Deficit spending grows economy when unemployment and underemployment are high.
  3. Investment spending – like education and infrastructure – is good if return exceeds investment.

About The Author

JoAnn Chateau

JoAnn Chateau likes progressive politics and loves the canines. She writes fiction about an alpha Bichon named Chester, and his friends--with a dash of humor and a dab of poli-sci. JoAnn worked professionally in the Psychology and Information Science fields. Retired now, she enjoys the creative life.


  1. DeBorah Palmer

    Congress and the Senate need to take a page from FDR. If Pres. Roosevelt had not moved forward with the New Deal America might not have gotten out of the Great Depression! Lord knows we need another WPA!

    • JoAnn Chateau

      You’re absolutely right. Thanks for bringing that up.




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