Modern Monetary Theory is an idea whose time has come

What do you know about modern monetary theory? It’s actually not that modern, since Adam Smith described aspects of it, and so did John Maynard Keynes. Alexander Hamilton certainly understood the basic principles. If you don’t know what I’m talking about, please read Stephanie Kelton’s book, The Deficit Myth, and learn. Balanced budgets at the federal level would be criminally irresponsible, since the National debt is simply the value of Treasuries the United States has issued at a rate we set. The bank always wins and, since we issue Treasuries in our sovereign currency, we will never run out of money. Please figure out how to explain this to the American people and stop lying to them about how Social Security will run out (since Congress passed the law that set it up, it could pass another to change the funding source—sounds like universal guaranteed income to me). Joblessness is not a function of trade imbalances but rather poor public policy. We left the gold standard in the 1970s. The interest rate floats—we set it. Who benefits from the citizenry being lied to all this time? We need to bring our world view in line with how economies actually function. Please learn and change.