Stiglitz: Deficits, Unemployment & Economic Growth - 27:20
The State of the Union
Deficit Reduction and Common Sense:
Invest in the Economy, Reduce the Military Budget & Tax the Rich
with
Joseph Stiglitz, University Professor Columbia University,
Recipient Nobel Memorial Prize in Economics 
The ink was hardly dry on the massive compromise federal tax bill 
when Republican leaders restarted their call for spending cuts in 
the new Congress to close the deficit. But Nobel Prize winning 
economist Joseph Stiglitz sets the record straight in his speech 
before the Roosevelt Institute. He says that the main cause of the 
deficits is the recession which premature deficit reduction would 
cause to deteriorate further. He also offers us a way to rebuild our 
economy which would also fight the increasing mal-distribution of 
wealth in this country by taxing the rich, reducing the military 
budget and investing in our cities, our infrastructure and new 
technologies to increase our productive capacities to increase 
economic growth.
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