"Rather than chasing after the misguided goal of a balanced budget we should be pursuing the promise of harnessing what MMT calls our public money, or sovereign currency, to balance the economy so that prosperity is broadly shared and not concentrated in fewer and fewer hands."
"Just because there are no financial constraints on the federal budget doesn't mean there aren't real limits to what the government can (and should) do. Every economy has its own internal speed limit, regulated by the availability of our real productive resources – the state of technology and the quantity and quality of its land, workers, factories, machine, and other materials. If the government tries to spend too much into an economy that's already running at full speed, inflation will accelerate. There are limits."
"As a share of gross domestic product (GDP), the national debt was at its highest – 120% – in the period immediately following the Second World War. Yet, this was the same period during which the middle class was built, real median family income soared, and the next generation enjoyed a higher standard of living without the added burden of higher tax rates."