Does the national debt matter? What if the most prominent debate in politics is based on a myth?
With trillions of dollars recently spent on the COVID-19 response, and the national debt level at near record highs, many are left wondering where Congress found the money to pay for all that spending, and whether we will have to pay it back. Stephanie Kelton, economist and political advisor, says this is the wrong question to be asking a sovereign government that issues its own currency. She says, “finding the money is the easiest part.”
Kelton embarks on a challenge to turn everything we think we know about money, debt, and taxes upside down.
FINDING THE MONEY captures the historic rise of Modern Monetary Theory, a controversial new theory that could represent a paradigm shift in economics. Kelton states the US federal government is not like a household, it does not borrow money like you or me, and the national debt is not leaving a burden for our children and grandchildren to pay back: in fact it is doing quite the opposite. However these ideas run so counter to the mainstream, top tier economists from both sides of the political spectrum berate the theory as “voodoo economics”, “dangerous”, and “just plain wrong”.
This complex story demands a feature length film that will take viewers on a 5,000-year journey through the history of money, while exploring the current conflict and debate around Modern Monetary Theory.
All donations are tax-deductible thanks to our fiscal sponsor, Filmmakers Collaborative Inc. We are raising $15,000 to finish production, and begin the main edit.
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