task0778
Diamond Member
The basic tenet of MMT is the idea that the United States government can spend money it doesn’t have by simply borrowing and/or printing more money. The problem with this is inflation, if you pump more money into the economy without a corresponding increase in production of goods and services then the result is rising inflation. And the truth is that the US Gov't does a very poor job of spending money to effectively produce more goods and services, instead they focus on the politics of where to spend money. Since that situation is highly unlikely to change, MMT will not work in practice. Realistically, you simply cannot spend your way to prosperity over the long haul.