The Great Deficit Scam

This is a very strong clue that government spending has in fact been woefully insufficient over the decades. We have locked ourselves into a demand-starved economic trap: stagnant wages, low growth, and tremendous cash hoarding at the top. This is the classic description of austerity, and like lowering deficits, austerity accomplishes the opposite of what its advocates publicly endorse.

1) Deficits are irrelevant — they’re not a legitimate policy objective.
2) The government cannot run out of money.
3) Taxes do not fund spending.
4) Spending in excess of tax receipts is not a problem.