Why, exactly, is the federal government deficit a bad thing? We've all heard the numerous objections: the deficit increases interest burdens, contributes to currency inflation and leaves us in debt to foreign states and investors. But why has deficit spending, as we're told, suddenly reached "crisis" level? On this week's edition of The Breakdown, DC Editor Chris Hayes and economist Robert Pollin talk about why the standard arguments against deficit spending don't tell the whole truth, and why our economy is unhealthy for reasons other than simple debt accumulation.

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Why, exactly, is the federal government deficit a bad thing? We’ve all heard the numerous objections: the deficit increases interest burdens, contributes to currency inflation and leaves us in debt to foreign states and investors. But why has deficit spending, as we’re told, suddenly reached “crisis” level? On this week’s edition of The Breakdown, DC Editor Chris Hayes and economist Robert Pollin discuss why the standard arguments against deficit spending don’t tell the whole truth, and why our economy is unhealthy for reasons other than simple debt accumulation. Resources

Robert Pollin in The Boston Review on the moral imperative of full employment. Pollin explains why austerity is not a solution [PDF]. Robert Pollin and Jeffrey Thompson on the betrayal of public workers in this week’s issue of The Nation.

Note: This episode of The Breakdown originally aired February 18, 2011.