The Deficit Myth: Money & the Federal Government's Role in Creating It
The Deficit Myth: Money & the Federal Government's Role in Creating It
- Date:
- Monday, May 12, 2025
- Time:
- 6:00pm - 7:30pm
- Location:
- Main Auditorium
- Location:
- Main Library (300 N. Roxboro St)
- Audience:
- Adult Emerging Adult: 18-24 Year Olds Senior Citizen
- Categories:
- Finance
The national debt is something we hear about often, but how much do you actually know about what this means? This program will present the paradigm shift that is occurring among economists about how federal money is created and spent. It is based on the ideas in The Deficit Myth, the 2020 NYT bestselling book by economist Stephanie Kelton, and her documentary on the same subject, Finding the Money. It will include a description of how all banks create money, the special role of the Federal Reserve in that process, and a discussion of critiques of this idea which is so new to most people.
Presenter:
Tom Clark is a part-time librarian at the Durham County Library, and a longtime Durham activist with a 30-year career as a professional librarian. He works as a transcript editor for a weekly economics podcast. He believes that because all Americans use dollars, everyone should know something about where they come from, how the Federal government creates and distributes them, and the role played by taxation.