Chiefs of Staff Roundtable: The Nuts and Bolts of Deficit Financing

Growing interest in the long-term financial picture of the country has renewed interest in the implications of deficits and the debt. This discussion, limited to Chiefs of Staff and committee Staff Directors will focus on the mechanics of how deficit spending is financed. 

Professor Garett Jones will lead a conversation exploring where the money to spend beyond available tax revenue comes from, what are the steps along the way from lender to borrower, and who ultimately owes what to whom. As an economist with expertise on monetary policy as well as experience at the Joint Economic Committee, Dr. Jones will lay out the “nuts and bolts” of the role the Federal Reserve, Treasury Department, foreign creditors, and Congress all play in determining where the money really comes from.