Statement on Govt. Debt and Spending By Economist Mark Blyth to the U.S. Senate

(Before It's News)

By Mark Blyth

There is much confusion, politically sown, about what debt is, what it does, and what it costs. They include the false ideas that the government deficit is unsustainable, that “entitlements” are bleeding us, and that paying interest on the national debt displaces money that would otherwise be spent on public programs.

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