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House Republicans Demand Hearing on MMT to Get Democrats on the Record

  • Modern Monetary Theory sparks questions about inflation risk
  • GOP Senators already proposed resolution rejecting the theory
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Republicans on the House Budget Committee want to put Democrats on-record about the nation’s growing deficit and the economic theory that argues it’s not so bad.

The 14 Republicans on the committee, including ranking member Steve Womack of Arkansas, are seeking a “hearing on the fiscal and economic implications of Modern Monetary Theory," according to a letter they addressed to the panel’s chairman, John Yarmuth, a Democrat from Kentucky. The school of thought, known as MMT, says that countries printing their own currency don’t have to worry as much about budget deficits because they can’t go broke.