Just a few days ago, I mentioned on Twitter that I have no patience for getting involved in the current public debate over Modern Monetary Theory (MMT). There is no reason to expect the private sector to provide a job for everyone who is willing to work. Indeed, for the private sector, labor is a cost that needs to be minimized. If the government spends more than it taxes, then the private sector earns more than it pays on April 15. This is why private sector debt skyrocketed during the Clinton surpluses.

Source: Forbes March 06, 2019 02:50 UTC