"Debt and Dumb"
Monday, October 17, 2011
Economists Simon Johnson and James Kwak discuss their article “Debt and Dumb,” in the November issue of Vanity Fair. They argue that today’s Tea Party is a betrayal of the foundation of American fiscal policy as established by Alexander Hamilton and has nothing in common with the Boston uprising it claims to honor. Alexander Hamilton, the first secretary of the Treasury, believed that good credit, based on the power to tax, is essential to a nation’s security.