Economic Update: How Deficits and Debts Rip Us Off

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On this week’s Economic Update, Professor Wolff devotes the entire program to explaining clearly and accessibly what government deficits are, why they occur, and who benefits from them. He show hows deficits and debts reward corporations and the rich at the expense of the mass of employees. This show will equip the audience to see through the misuse of deficits and debts in the 2024 election campaigns.

This video was produced by Democracy at Work and published on their YouTube channel on the 29th of July, 2024. We have translated it into German and are republishing it today to help build opinion on this issue in Germany and beyond.

To read the transcript of the interview: Economic Update: How Deficits and Debts Rip Us Off

VIDEO: Economic Update: How Deficits and Debts Rip Us Off

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ABOUT RICHARD D. WOLFF

Richard D. Wolff is the founder of Democracy at Work and hosts the show Economic Update there. He is Professor of Economics Emeritus, University of Massachusetts, Amherst where he taught economics from 1973 to 2008. Earlier he taught economics at Yale University and at the City College of the City University of New York. Wolff was also a regular lecturer at the Brecht Forum in New York City. He is currently a Visiting Professor in the Graduate Program in International Affairs of the New School University in New York City.