Opinion: Modern Monetary Theory is nonsense, just more voodoo economics
At the core of Modern Monetary Theory is the idea that deficits do not matter. The idea is that the Federal Reserve can simply issue more debt and load up the balance sheet as a means of making up for the shortfall in tax revenue.
This is a utopian idea for overzealous spenders in Washington, especially on the left. The idea of everything for all is being promoted by a number of announced Democratic candidates for President. Whether it is healthcare, monthly checks, or a job, the idea is just to give people whatever they want.
The problem is how to pay for it.
This is where MMT is applied. By having any budget shortfall covered by the "printing press", the idea is to take fiscal discipline and get rid of it
We can see why this would be appealing to politicians who promise money in exchange for votes.
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That would be very bad and stupid too.