The establishment media is in a state of freefall due to its willingness to sacrifice credibility to advance the leftist agenda. But if you think private sector propaganda platforms like ABC, NBC, CBS, and CNN are a joke, consider the media outlets that are financed by Big Government. Examples include the BBC, PBS, and at the last limits of lunacy, NPR — which informs us that the mountain of debt compiled by moonbats as they waste our money on crap like public broadcasting actually constitutes savings.

From National Public Radio:

NPR’s Leila Fadel talks with Stony Brook University professor of economics Stephanie Kelton about some potential benefits of the nation’s $34 trillion of debt.

The word “benefits” is not a typo.

Fadel introduces her guest as…

“…a senior economic adviser for Senator Bernie Sanders’ presidential campaigns. She’s also a proponent of modern monetary theory, or MMT, which argues that since the U.S. prints its own currency, it can’t run out of money like a household or a business can.”

An economic advisor to a communist believes we can produce infinite wealth by printing infinite money. Refer to Zimbabwe to see how this turns out in real life.

The nutty professor explains her theory that debt is savings:

“So over the arc of U.S. history, the U.S. government typically spends on an annual basis more dollars into the economy than it taxes away from us. And so it’s adding dollars, and over time, we keep track of how many dollars have been added. And what that 34 trillion is telling you is that over the long sweep of history, the U.S. government has put that many dollars into our hands without taxing them away. So what it is is it’s our after-tax savings that’s being reported.”

Then the men in white coats arrived with their butterfly nets and escorted her away.

Currency issued by the government is not wealth; it only represents wealth. NPR’s expert is unwilling or unable to grasp this:

“[T]he idea that taxes pay for what the government spends is pure fantasy,” she writes in The Deficit Myth. “[I]t is the currency issuer — the federal government itself — not the taxpayer, that finances all government expenditures.”

Meanwhile, as even some liberals understand,

MMT is a recipe for hyperinflation, as Harvard economist and former Clinton Treasury Secretary Lawrence Summers has noted, along with countless other economists. …

Printing mass amounts of money cannot solve the problem of scarcity.

An economist who cannot comprehend scarcity is like a mathematician who cannot count.

“The carpenter can’t run out of inches,” she tweeted in 2019. “The stadium can’t run out of points. The airline can’t run out of [frequent flier] miles. And the USA can’t run out of dollars.”

There is a reason Kelton has crazy eyes. She is crazy.

There is also a reason NPR provided a platform to this kook:

Kelton was all but certain to say the $34 trillion debt was no problem. Don Boudreaux, Peter St. Onge, David Henderson, Bob Murphy, Antony Davies, or any number of other free-market economists would have given a very different answer, one that no doubt would have been far more grounded in economic reality. But as a media entity receiving tax dollars, NPR has little incentive to promote a free-market economist or free-market views. Indeed, they have an incentive to do precisely the opposite.

The skyrocketing national debt is not the only looming crisis that we will be lucky to survive. There are also the undefended border, the likelihood of Iran acquiring intercontinental nuclear missiles, and a ruling class that may actually believe its own self-serving lies, no matter how preposterous.

On a tip from Barry A.

One Response to “NPR Expert: Debt = Savings”

1. Moonbattery Congress to Shovel More Welfare at Illegal Aliens - Moonbattery says:

   January 30, 2024 at 9:03 am

   […] to government-affiliated public broadcasting, debt is good, because it is savings. This is fortunate, because bribing the Third World to pour across the […]