'BradCast' 3/25/2020 (Guest: Economist Stephanie Kelton on Coronavirus relief bill and 'The Deficit Myth')

Published: March 26, 2020, 1:54 a.m.

b"On today's 'BradCast':\\xa0 Prince Charles and rock musician Jackson Browne have both tested positive for COVID19 \\u2013 but most sick Americans cannot get tested for coronavirus, which continues to be a national disgrace and ongoing failure of the Trump Administration. The U.S. Senate has reached an agreement on a $2 trillion emergency spending bill to address some of the growing economic fallout from the global coronavirus pandemic. Experts agree there will need to be much more spending hereafter, but so far, no one in Congress, the White House or the corporate media is asking 'how will you pay for that?' or complaining that we must offset that spending with budget cuts elsewhere. Economics professor and author Dr. STEPHANIE KELTON of Stony Brook University explains that Congress has always had the power to "conjure" into existence trillions of dollars, in a matter of days, in order to accomplish whatever it deems a priority \\u2013 whether for wars, massive tax cuts for corporations, or dealing with a global pandemic. Kelton explains the "deficit myth" and the basic concepts of Modern Monetary Theory, and why it's necessary to help educate Americans who have been immersed in the false political myth that the only things we can "afford" are corporate subsidies and tax cuts for the rich, but we have no money for programs that promote the general welfare of average Americans. Also today: details on what's included the proposed Phase III emergency coronavirus spending bill, what it will and won't pay for, and the good news that America's governors -- both Democratic and Republican -- seem to be ignoring the corrupt, idiot, man-child President when it comes to the coronavirus..."