The U.S. National Debt

Photo by Ruth Enyedi on Unsplash

I wrote the story below about the U.S. debt situation a few months ago. Lately, I’ve been reading a lot about MMT (Modern Monetary Theory), which argues that because the U.S. borrows in its own currency, the national debt doesn’t matter. I don’t think that’s true.

MMT feels like an attempt to rationalize ever increasing amounts of federal debt by attempting to convince everyone that “debt denominated in a nation’s own…