War chest or treasure chest? Is the answer to COVID-19 more debt?
It's raining money. How much more should the government spend on cushioning the economy? Stephanie Kelton is a professor at Stony Brook University, a senior economic advisor to Bernie Sanders and author of The Deficit Myth: Monetary Theory and the Birth of the People's Economy. She says that yes indeed, the government does have the right to print money. It's just 'unfortunate that we have given it the name debt' If it is the 'job' of the people during a pandemic to stay home, then it is the job of the government to step in and pay them.