Money Financed Deficits Have the Same Future Tax Obligations As Bond Financed Deficits

Over at Worthwhile Canadian Initiative, Nick Rowe wonders how much of a deficit would need to be money-financed as opposed to bond-financed. I say it doesn’t matter how you finance the deficit, what matters is the time path of interest rates (which is independent of how the deficit is financed).

Continue reading “Money Financed Deficits Have the Same Future Tax Obligations As Bond Financed Deficits”

Money Financed Deficits Have the Same Future Tax Obligations As Bond Financed Deficits

A Little Bit of Treason

Like the public, I am conflicted about Snowden.

Clearly he’s a whistleblower, what he did required courage, and I have no reason to question his beliefs or motivations. Moreover, his revelations about government surveillance are very important and in some ways necessary for an informed debate about what our government is doing. I am better off knowing what I know. At the same time, we can’t have insiders scooping up mass documents and taking them out of security controls whenever they personally believe that they are serving the public’s interest.

Continue reading “A Little Bit of Treason”

A Little Bit of Treason