Friday, April 2, 2021

Top MMTer Calls for Even More Government Spending

Stephanie Kelton

First, we had AOC calling for a $10 trillion "infrastructure" plan.

Now, Modern Monetary Theory advocate Stephanie Kelton, tells, that more spending is needed to advance progressivism:

I think Biden is a pretty terrific messenger. He sold the population on the need for a nearly $2 trillion rescue package, and he’s on the verge of barnstorming the country to build support for another $3 to $4 trillion for his Build Back Better agenda. He could go even bigger, and I think he could do it without giving the other side any rope to hang him with. 

What exactly is her progressive take?

She references an article that calls for going beyond FDR "rights": 

1. The right to a useful and remunerative job in the industries or shops or farms or mines of the nation.

2. The right to earn enough to provide adequate food and clothing and recreation.

3. The right of every family to a decent home.

4. The right to adequate medical care and the opportunity to achieve and enjoy good health.

5. The right to adequate protection from the economic fears of old age, sickness, accident, and unemployment.

6. The right to a good education.

7. The right to sound banking and financial services.

8. The right to a safe and clean environment.

9. The right to a meaningful endowment of resources as a birthright.

They don't get much more central planner in outlook than Stephanie Kelton.  

It is quite the thigh slapper that she references an article that calls for "The right to sound banking and financial services," since she is the advocate of the most irresponsible money printing since Gideon Gono.

She knows she is pretty close to calling for an extreme planned economy.

Just look at her denials during interview:

It’s not communism or socialism but a kind of protectionism that he could successfully lean into to build support for a more progressive suite of economic policies. 


Biden wouldn’t be selling communism or socialism, but he could sell America on a different kind of protectionism.

My complete response to MMT madness is: Problems With Modern Monetary Theory: A Comment on Stephanie Kelton’s "The Deficit Myth" 



  1. For those who don't follow ReasonTV on youtube, there is a guy named Remy that does music video spoofs that are amazing.

    He did one of the Fed's money printing set to the music of WAP, and there is a very funny MMT in the video.

    Highly rec that video and all Remy's work.

  2. Couldn't agree more. Remy is a National treasure.

  3. I wonder if Ms. Kelton the following Bastiat quote from "the Law."

    ...The delusion of the day is to enrich all classes at the expense of each other; it is to generalize plunder under the pretense of organizing it. Now, legal plunder may be exercised in an infinite multitude of ways. Hence come an infinite multitude of plans for organization,; tariffs, PROTECTION (my emphasis added), perquisites, gratuities, encouragements, progressive taxation, gratuitous instruction, right to labor, right to profit, right to wages, right to assistance, right to instruments of labor, gratuity of credit, et.c, etc. And it is all these plans, taken as a whole, with what they have in common, legal plunder, which takes the name of SOCIALISM (my emphasis added).

    P.S. That Remy video was hilarious and yes, he's been great over the years.

  4. "The right to a meaningful endowment of resources as a birthright."

    Sounds a lot like inheritance. Communists aren't supposed to like that. Oh well, since when have they ever bother being logical?