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Mike Norman battles Glenn Beck's Blaze TV: MMT at War

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    Mike Norman on the Blaze.

    Comes out with knockout punches, then they run interference.

    Government expenditure cuts have a more immediate and direct impact on GDP than tax increases...because some of the income taxed would have been saved.

    Just like how there is a higher spending multiplier associated with government expenditures vs. transfer payments and/or tax cuts....due to the fact that some of those new incomes in the private sector will be saved. Government expenditures are all spent by definition - that's "books, bombs, bridges" - and it adds to sales directly, which then adds to incomes. It's the other way around with transfer payments and tax cuts.

    Spending cuts are macroeconomic tax increases.

    Mike invites no accomodation to ideology and gets haggled for it.

    http://www.youtube.com/watch?feature=player_embedded&v=2Ou7WbNiXjA#!

    (link)