US Federal deficits

Mark Thoma posted yesterday Is Galbraith Right that Deficits are Never a Problem? on Paul Krugman’s NYT piece I Would Do Anything For Stimulus, But I Won’t Do That (Wonkish) on MMT and soveriegn debt (using Angry Bear’s posting of Jamie Galbraith’s testimony to Congress as a link), and has included Jamie Galbraith’s response. It is worth reading.

Ed Harrison at Creditwritedowns weighed in here.

Calculated Risk has posted a 5 series on Sovereign Debt both historical and comparative internationally.

More to come from other economists.