Spending. It’s the thing that helped me make my decision to leave the GOP a few years ago as there seemed to be very little difference between them and the Democrats when it came to fiscal responsibility. Where we spend the money is the only big deviation, but both sides of the political aisle have an addiction to spend more than the country has available. In the past, this was dangerous because of the crushing force of national debt that will eventually bring about an economic collapse. Today, the risk is much, much greater and within immediate striking distance.
What a trillion-dollar budget deficit represents today is an avenue through which Modern Monetary Theory could actually be realized in the United States. Those who are familiar with MMT may still be as complacent about it as I was a year ago; “It’ll never happen, not in America.” But as Democrats push Medicare-for-All, the Green New Deal, open borders, state-funded education, reparations, and outright socialism, there’s only one conclusion that any economist or political pundit can come to: If the new thinking of the Democratic Party gets a foothold and initiates some of their plans, then MMT is the only possible way to make it happen.
They don’t even need to initiate all of them. Just one or two will be enough for catastrophe.
In other words, they’re policy proposals are already writing checks the U.S. can’t cash, so every scenario in which a partial implementation of these policies takes place can only happen through MMT. For those who don’t want to read up on it, MMT is essentially the practice of printing the cash to pay the bills. Proponents say it will be different this time from every other failed attempt at MMT because America is responsible enough and too crucial to the world economy for it to cause hyperinflation. Reading the delusional excuses for promoting MMT reveals an uncanny ability to deny reality while simultaneously suppressing common sense. It’s the type of thing that only progressive economic scholars can truly comprehend, and that should terrify you.
By moving the budget deficit into the ten-digit arena, we’ve broken a threshold that gives MMT legs. Whether it’s Alexandria Ocasio-Cortez saying, “You just pay for it,” or Elizabeth Warren constantly saying the rich will be taxed until it’s paid for despite the basic arithmetic that demonstrates this is impossible, they’ll all latch onto the notion that if we can spend a trillion dollars in one year that we don’t have, why can’t we spend two? Ten? Fifty?
On one hand, I want to do whatever it takes to convince Republicans they need to do what they campaign to do: cut spending. It’s not as easy as just pulling the plug on frivolous programs, services, agencies, and whole departments… except that it truly is that easy. It’s not popular. Some say it’s political suicide. But considering it’s never been tried in the modern era (no real cuts have been made to spending in decades), now is the time to be bold and do what’s right for the nation. The rise of the internet in general and social media in particular gives conservatives an outlet through which they can educate the masses about the need to make cuts. It’s something we plan on doing as part of the American Conservative Movement.
But on the other hand, one thing that can’t happen in trying to convince Republicans they’re doing it wrong by allowing them to lose. The Democrats are now more than the lesser of two evils. They’re dangerous. The plans they will implement are existential threats to America. Sadly, many of them know this. The Justice Democrats, who are driving the leftward lurch within the Democratic Party, are shockingly aware of what they’re trying to accomplish. Destroying and rebuilding America in their image is the end goal. That image is not a pretty one, even to the Justice Democrats, but things are rarely pretty when radicals get their hands on it.
Modern Monetary Theory will be implemented if the Democrats get full control. Unfortunately, Republicans aren’t helping fight it as long as they’re pushing such untenable budget deficits. It’s time for a heavy dose of fiscal conservatism.
We are currently forming the American Conservative Movement. If you are interested in learning more, we will be sending out information in a few weeks.
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