Oct 14, 2021
The progressive left continues to push for passage of President Biden’s $3.5 trillion (which in reality is more than $5.0 trillion) spending plan and Socialist Bernie Sanders touts the bill as a “compromise” insisting that the real amount should be more than six trillion. How can the left justify such massive spending since no one believes that the proposed tax hikes to accompany the spending will cover more than a fraction? Conveniently, economists of the progressive left have a theory (they have a lot of theories in lieu of facts) that says government can spend all they want. In this podcast, the Edifice of Trust host, Victor Bolles investigates the rationale behind Modern Monetary Theory and some of the dangers application of this unproven theory would create.