We’re often told, “We can’t afford that program” or “The deficit will bankrupt our grandchildren.” But is this true? Unlike households, the U.S. government issues its own money through the Federal Reserve — it doesn’t need to “find” dollars before it spends them. That’s what makes the dollar a fiat currency: It isn’t backed by gold or any commodity, but instead by law and trust. This class cuts through myths about budgeting, deficits and debt to show how government spending really works. We’ll separate fear from fact and explore how money creation shapes policy, inflation and our everyday lives.
NOTE: There is no class on Monday, Jan. 19.
