To: President Donald Trump
US national deficit IS necessary for economic recovery
The POTUS should seek economic policy advice from competent MMT advocates, rather than the Democratic Party's neoliberal hacks which ruined the Clinton administration. President Obama would learn that national austerity in this country is a fool's idea. The USA is not only THE major world power, but as a sovereign country with control of it's currency, taxing abilities, and floating currency rate policies it has many millions of unemployed citizens who would contribute to society if only the government would provide jobs. Responsible, intelligent leadership is required to spend wisely and avoid foolish government decision-making,
Since law prohibits states from printing currencies used to pay US obligations/taxes, the fate(s) of the state governments are intricately tied to that of the country as a whole. In addition to others, these considerations require wise decision makers at local, state and national levels.
Since law prohibits states from printing currencies used to pay US obligations/taxes, the fate(s) of the state governments are intricately tied to that of the country as a whole. In addition to others, these considerations require wise decision makers at local, state and national levels.
Why is this important?
Modern Money Theory (MMT) can allow the citizens of the USA to cease fear of the deficit/debt bogie men. MMT will permit understanding that this sovereign country can always pay it's debts.
A country which prints/uses it's own currency and employs floating exchange rates can never go broke and need not fear inflation as long as there are unemployed citizens willing to work. A Central Bank (Fed Reserve) can always control interest rates of the USA
A country which prints/uses it's own currency and employs floating exchange rates can never go broke and need not fear inflation as long as there are unemployed citizens willing to work. A Central Bank (Fed Reserve) can always control interest rates of the USA