In its Monthly Budget Review for June 2020, the Congressional Budget Office (CBO) said on Wednesday, July 8, that the budget deficit for the year so far has reached $2.74 trillion, an increase of $2 trillion over the same nine-month period in…
The rapid rise in federal debt caused by the need to support an economy devastated by COVID-19 has renewed interest in a school of economic thought called Modern Monetary Theory (MMT). It is easy to understand why: MMT provides an…
The economic devastation imposed by the coronavirus has been swift, steep, and wholly unlike any prior recession. In March, the government purposely induced a nationwide economic coma to curb the spread of the deadly coronavirus and deployed bazookas of money…
Moving rapidly to pass the next installment of COVID-19 pandemic relief, on May 15 the U.S. House of Representatives passed H.R.6800, the Health and Economic Recovery Omnibus Emergency Solutions Act, or the HEROES Act. Although the Congressional Budget Office has…