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The Mythology of Debts and Deficits

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  • William Waller

Abstract

This paper discusses the role played by mythology in the public's perception, and the formation of public policy with regard to federal debt and deficits. It argues that three myths structure our understanding and prevent us from adopting reasonable policies. These myths suggest that most government action is deleterious, and that the government as an economic agent should be held to the same standard as individual economic agents.

Suggested Citation

  • William Waller, 2014. "The Mythology of Debts and Deficits," Journal of Economic Issues, Taylor & Francis Journals, vol. 48(2), pages 461-468.
    • Handle: RePEc:mes:jeciss:v:48:y:2014:i:2:p:461-468
    DOI: 10.2753/JEI0021-3624480220
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