Saturday, August 1, 2020

Opinion | America Looks Hopelessly Broke. It Isn’t. - The New York Times

Kelton argues that our government’s inability to provide for citizens isn’t due to a lack for money; instead, our leaders lack political will.

Kelton — who has worked as an economist for Democrats in the Senate and as an adviser to Bernie Sanders’s presidential campaigns — is one of the leading proponents of Modern Monetary Theory, or M.M.T. The theory argues that because the government is in charge of its own currency, it cannot “run out” of money the way a household or a business can, and it therefore does not need to raise taxes to fund government spending.

via www.nytimes.com

MMT actually stands for Marvelous Money Train. And it's AWESOME!

https://rightcoast.typepad.com/rightcoast/2020/08/opinion-america-looks-hopelessly-broke-it-isnt-the-new-york-times.html

| Permalink

Comments

Magic Money Tree. It's worked so well in Zimbabwe.

I've got one of those billion dollar notes from Zim.

Posted by: dearieme | Aug 2, 2020 2:10:30 PM

Post a comment