Modern Monetary Theory (MMT) — Unlimited Spending?

Modern Monetary Theory is a bold rethinking of public finance. It says the real constraint on government spending isn’t money — it’s resources and inflation. Taxes don’t fund spending; they manage demand. Deficits aren’t inherently bad; they’re just the difference between what the government injects and what it takes out. Whether you see MMT as a dangerous fantasy or a necessary evolution, one thing’s clear: it’s changing how we think about debt, budgets, and economic potential. So next time someone says, “We can’t afford it,” ask: Can we really not afford it — or are we just choosing not to try?