Alarmed by the rise in the deficit and the national debt, which now tops $22 trillion? More and more intellectuals are here to tell you not to worry so much.
On the left, Stephanie Kelton argues that deficits are worrisome only when they produce inflation, and inflation remains low. On the center-left, Jason Furman and Lawrence Summers suggest that low interest rates are a reason to increase "worthwhile investments in such areas as education, health care, and infrastructure." On the center-right, Ross Douthat writes that the U.S. "should be willing to live with a loose fiscal policy when wage growth is disappointing and inflation low.