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Stephanie Kelton: Republican tax cuts not 'giant stimulus' despite big price tag

Next Recession: Global slowdown 'real' but U.S. economy 'resilient' says...

Stephanie Kelton, former chief economist for the Democrats on the U.S. Senate Budget Committee, says the Republican Tax cuts have helped growth but fall short of a "giant stimulus" despite their $1.9 trillion price tag (over 10 years).

She attributes part of this disparity to the tax cuts "disproportionately" benefiting higher income Americans who she says have a lower "propensity to spend".

Kelton also talks about what might bring on the next recession. She notes a global slowdown but says the U.S. economy has proven itself "extraordinarily resilient".

Watch the video above for more from Stephanie Kelton on the Republican tax cuts and headwinds facing the U.S. economy.