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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.
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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.

2 Comments

  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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