The national debt is $36 trillion — a panic-inducing big number. So maybe it will help to understand how the U.S. ran up that debt. We’ve blown 37% of it on tax cuts, with precious little to show for that. But 28% went to stabilize the economy during two major crises (in ’08-’09 and during the COVID pandemic), which is when you do want the federal government to pull out its credit card. Good news is we don’t have to get the debt to zero. We just need to get pointed in that direction. And for listeners who’ve been waiting for MMT (Modern Monetary Theory) to make a cameo, that moment has arrived.Support Optimist Economy by becoming a paid Substack subscriber here, or by making a contribution at https://buymeacoffee.com/optimisteconomyComplete show notes with links to articles and data at optimisteconomy.com.You can also find Optimist Economy on:TikTokYouTubeInstagram
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