#41 – US Debt and the Modern Monetary Theory
In this episode, we discuss the US Debt and the Modern Monetary Theory. Please look at this episode as a very basic understanding on the topic and a jumping board to dive deeper into questions like
- How is money created?
- What is the Modern Monetary Theory?
- Why does the US have so much debt?
- Is so much debt for a country good?
- Why can’t the Government print a lot of money?
Modern Monetary Theory: Governments (like the U.S., U.K., Japan, and Canada) do not rely on taxes or borrowing for spending since they can print as much as they need and are the monopoly issuers of the currency. Since their budgets aren’t like regular households, their policies should not be shaped by fears of the rising national debt.
John Oliver’s Video on US Debt
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