"The household budget and the state budget are completely different things."
We’re back in the pub a year later with Mark Blyth, the outspoken political economist at Brown University—which means he works and talks and thinks at the intersection of big money and big power.
In this pub, the forbidden word is “bankruptcy.” When Mark Blyth moved to the United States, the national debt was about a quarter of the gross national product for one year. It is now 125% of GNP. The government does not cover its costs. It chooses not to raise taxes, and it cannot stop borrowing.
Political economist at Brown University.
Brendan Greeley and Mark Blyth