MMT

Many modern day progressives (liberals) believe in Modern Monetary Theory (MMT) which states that the United States can create all the money it needs without adverse consequences. It states that a country cannot go bankrupt as long as it creates its own money. Followers of MMT realize that inflation is a possible outcome but feel that can be monitored and held in check by future tax policy. They state that the true value of the country is determined by its natural resources and work force. These two forces combine to create supply and the economy creates the demand and growth follows. While this type of thinking is contrary to most economic theory it is worth considering. Spending on wars on poverty, on drugs, on virus or on actual wars has been going on for many years and the country always survives. There are underlying factors that no one seems to understand. Case in point. You can't keep spending more than you take in. The government has run a deficit in 56 out of the last 60 years.