In a mere year, the next presidential election will be upon us. While this may seem like a long time for some Americans, candidates have already kicked into campaigning mode; for registered Democrats, primaries start in Feb. 2020.
Stephanie Kelton, professor of public policy and economics at Stony Brook University and economic advisor to Bernie Sanders, is a leading figure in the rising economic movement called Modern Monetary Theory (MMT).
Kelton described the debate over the national debt as a “bipartisan chorus,” since both parties in Washington agree that having such a high debt will produce dangerous economic consequences for future generations. Contrarily, she argues that deficits are necessary for economic growth.