I have long positioned myself as something of a deficit hawk. A few weeks ago I heard a podcast about Modern Monetary Theory, an economics ideology which declares that debts and deficits don't matter. This is not the first time I have heard someone claim that, and my response was always, "But what about inflation?!?" Well it turns out I was wrong. Advocates of MMT aren't ignoring inflation they're arguing that inflation is the only thing you should worry about. This does answer my primary objection, but I think there are still reasons why MMT is a bad idea.
