Economist Argues Deficit Helps Economic Crisis Mend

from National Public Radio

University of Texas economist James Galbraith says there is no long-term deficit problem. He tells David Greene that in an economic crisis, deficits help restore equilibrium. Galbraith says as long as interest rates stay below the growth rate, debt-to-GDP levels will stabilize and even decline.

Broadcast Dates

• Morning Edition, August 18, 2011