DFVS - Debasing The Baseless: Modern Monetary Theory

A recent post from the Peterson Institute - Further Thinking on the Costs and Benefits of Deficits – follows on from the Presidential Lecture given by Olivier Blanchard at the annual gathering of the American Economic Association ((AEA)) Public Debt and Low Interest Rates. The article discusses a number of issues which are linked to Blanchard’s speech: -

Is the political system so biased towards deficit increases that economists have a responsibility to overemphasize the cost of deficits? Do the changing economics of deficits mean that anything goes and we do not need to