Week 13 – Government Budget

Before class on Tuesday, 11/16
Watch (13:51): Kelton (2021)
Read: Lu (2020)
Read: Lumen Learning: “Taxation

In class on Thursday, 11/18
Question Building 2 In Class

Material Links
Kelton, Stephanie. (2021). “The big myth of government deficits.” TEDMonterey. https://www.ted.com/talks/stephanie_kelton_the_big_myth_of_government_deficits
Lu, Marcus. (2020, October 30). “Charting America’s Debt: $27 Trillion and Counting.” Visual Capitalist. https://www.visualcapitalist.com/americas-debt-27-trillion-and-counting/
Lumen Learning: from Module 11: “Taxation” https://courses.lumenlearning.com/wm-macroeconomics/chapter/reading-taxation/

One thought on “Week 13 – Government Budget

  1. Marleen Fernandez

    1. In “The Big Myth of Government Deficits” Stephanie Kelton states that what the government did during the pandemic like expanding health care, education, infrastructure, free covid testing, paying rent and beyond was an opportunity to show why the government budgets don’t work like house hold budgets. do you agree or disagree?

    2.According to Kelton on “The Big Myth of Government Deficits”,I learned that the federal government will never or better cannot run out of money. Kelton stated that the government can afford to buy what ever is available and for sale in its own currency. she says that money is never a problem the government are the ones to create the money. they way is works is that when the congress or president approves or agrees to spend more money the government banks which is the federal reserve works with the financial system to get that money . I also that this is how the economy is supported which in my understanding is were we start paying for taxes because of these spends of the government.

    3.My favorite part was knowing that most of the money that is being spend are on building new bridges buildings etc. I also liked the idea that I also learned that a government deficits becomes a financial surplus. My least part is knowing that in order for the government spend more money it needs to be approves by the congress or president which in my understanding is not good.l

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