![]() ![]() It is helpful, therefore, to understand where Kelton and her fellow MMTers are coming from. The resultant standoff will be decided in part by both sides' views on deficits-meaning Kelton's arguments could have a real impact on the country's fiscal future. Republicans are nervous, while Democrats seem eager to spend trillions more. Thanks to the coronavirus, the federal deficit is projected to swell to $4 trillion this year. That's a wonky claim, but one with increasingly real stakes. ![]() MMT entails many ideas, but the one for which Ocasio-Cortez attracted pushback is the one to which Kelton's book is committed: Most fears about budget deficits are wrongheaded and dangerous. Alexandria Ocasio-Cortez (D., N.Y.) said that it should be "a larger part of our conversation" about paying for programs like the Green New Deal. She is arguably America's loudest and most prolific proponent of Modern Monetary Theory (MMT), a heterodox school of economics that is the subject of her new book, The Deficit Myth. What has really made Kelton's name, however, is her policy views. Earlier this month, Kelton was among Sanders's selections for Joe Biden's "unity task force," giving her a direct hand in crafting the presumptive Democratic nominee's economic platform. Bernie Sanders (I., Vt.) on both of his presidential campaigns. ![]() A Stony Brook University professor, Kelton has served as chief economist to Senate Budget Committee Democrats and as a key adviser to Sen. ![]()
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