In a recent article at the Huffington Post, Lynn Parramore assembled a team of economists to refute nine “myths” about the deficit. On the one hand, it was refreshing to see these economists discuss with such candor the fact that our financial system is backed up by nothing but green pieces of paper. On the other hand, it was shocking to see these economists laud the fact.
Believe it or not, the theme of the article is that all the handwringing over the federal budget deficit is misplaced, because Uncle Sam can print all the money he needs.
. . . .
HuffPo Myth #1: The Federal Government Should Balance Its Books
HuffPo Myth #2: Social Security Is in Crisis
HuffPo Myth #3: Government Deficits Burden Our Children
HuffPo Myth #6: Government Deficits Deplete Savings
(Read more from mises.org)
Can’t decide if this is funny or sad or deliberate propaganda.