The current level of gross public debt is over $31
trillion. My brother-in-law says this debt will be a
burden that his kids will have to pay. Will it be a
burden on future generations? Explain.
Your discussion should include a summary of each
view presented in class:
1. The “hysterical view”
2. The Traditional or Textbook View. Include a
discussion on the “correct” measure of public
debt and an explanation of how to stabilize
D/Y ratio, if Debt is viewed as a problem.
3. MMT argument
You should include other outside sources, but you need
to incorporate the text, lecture notes, and the readings
(first 2 articles below) noted in the syllabus on this
Galbraith, James K. “Is the Federal Debt Sustainable?”
Mathews, Dylan. “Modern Monetary Theory,
Peterson, Michael A. “Our $23 trillion National Debt:
an intergenerational injustice.
• Hysterical View: The
Peterson Institute is a well-known organization
dedicated to reducing public debt.]
The paper should be a minimum of 4 pages long and
follow the standard format with Intro, body,
conclusion, and bibliography.
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The current level of gross public debt is over $31
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