Godfather of Modern Monetary Theory Says Government Is Spending Like a ‘Drunken Sailor,’ Lambastes Federal Deficit

Warren Mosler noted that the deficit itself ‘is just an accounting residual’ but adds ‘any spending has consequences.’

The New York Sun
Warren Mosler

The economist known as the godfather of Modern Monetary Theory is sounding an alarm on the rising fiscal deficit, saying that America is spending like a “drunken sailor.” 

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