re: #166 Belafon

It is different, though. The GOP is borrowing within the current economic system. Their borrowing is not undermining the value of the dollar. The idea of printing more money just means that the dollar is worth less than what it was before that money was printed. And we call that inflation. And to print enough money to pay for a green new deal lead to some serious inflation.

Does it though? There are very powerful deflationary forces in the world, and there are still a lot of prime age Americans who aren’t employed. MMT theorists don’t propose just printing money and letting inflation get out of control; they would apply enough taxation to reduce the money supply if it became necessary.