Daniel Altman: Don't Fear the Debt. The Responsible Way to Grow the Economy

The U.S. economy added only 80,000 jobs last month and the unemployment rate remains stuck at 8.2 percent. Worse yet, many economic forecasters see "tepid" growth for the rest of the year.


It doesn't have to be this way, says Daniel Altman in the video below, as more robust government spending could provide the necessary stimulus to reverse this trend. So what is the holdup? Congress has been unwilling to increase spending, pointing to concerns about budget deficits. And yet, according to Altman, the U.S. debt is "not an unreasonable amount," given that it is much less than many other countries "proportional to our GDP."

In other words, the U.S. government has no problems borrowing money. Therefore, the most responsible way to end the recession, Altman says, is to "spend in a way that stimulates our economy in the short term, but also helps us to grow in the long term."

Watch the video here:

Image courtesy of Shutterstock

LinkedIn meets Tinder in this mindful networking app

Swipe right to make the connections that could change your career.

Getty Images
Sponsored
Swipe right. Match. Meet over coffee or set up a call.

No, we aren't talking about Tinder. Introducing Shapr, a free app that helps people with synergistic professional goals and skill sets easily meet and collaborate.

Keep reading Show less

Dead – yes, dead – tardigrade found beneath Antarctica

A completely unexpected discovery beneath the ice.

(Goldstein Lab/Wkikpedia/Tigerspaws/Big Think)
Surprising Science
  • Scientists find remains of a tardigrade and crustaceans in a deep, frozen Antarctic lake.
  • The creatures' origin is unknown, and further study is ongoing.
  • Biology speaks up about Antarctica's history.
Keep reading Show less

A world map of Virgin Mary apparitions

She met mere mortals with and without the Vatican's approval.

Strange Maps
  • For centuries, the Virgin Mary has appeared to the faithful, requesting devotion and promising comfort.
  • These maps show the geography of Marian apparitions – the handful approved by the Vatican, and many others.
  • Historically, Europe is where most apparitions have been reported, but the U.S. is pretty fertile ground too.
Keep reading Show less

Why are women more religious than men? Because men are more willing to take risks.

It's one factor that can help explain the religiosity gap.

Photo credit: Alina Strong on Unsplash
Culture & Religion
  • Sociologists have long observed a gap between the religiosity of men and women.
  • A recent study used data from several national surveys to compare religiosity, risk-taking preferences and demographic information among more than 20,000 American adolescents.
  • The results suggest that risk-taking preferences might partly explain the gender differences in religiosity.
Keep reading Show less