People like Stephanie Kelton, Sanders' economist in 2016, a professor at Stony Brook University, and a proselytizer for this view toward currencies and national economies, argues that the government essentially prints money each time it authorizes new unpaid for programs and that it hasn't hurt the economy by causing runaway inflation.
What keeps politicians in check with what they can promise to voters. Or should there be a brake?
Kelton: The brake is inflation. If policymakers run wild, cutting taxes and pumping money into the economy with reckless abandon, inflation will spike and voters will (presumably) check those politicians at the ballot box.
https://www.cnn.com/2019/01/13/politics/debt-spending-mmt/index.html
Umm, there is an argument that the National Debt doesn't matter. but I don't believe that voters will be any sort of check on government spending. They (if they are recipients of it) will love it. She doesn't address the traditional argument that raising interest rates will be a check on inflation.
I think this is just proclaiming the new pseudo-scientific economic gospel - MMT - and using it as an excuse to increase government spending. She blinded me with science!
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