Earlier this week, former Barack Obama adviser Larry Summers called Alexandria Ocasio-Cortez’s spending proposals “dangerous.” Obama Adviser Summers: Ocasio-Cortez Plan ‘Dangerous’ for US Economy Summers, who was once the chief economist at the World Bank, told CNBC that advocating to run up the national debt – as Ocasio-Cortez and Bernie Sanders have – and let the Federal Reserve endlessly monetize the debt by “printing” more money to acquire Treasury securities is not a “realistic calculus.” He also called “Modern Monetary Theory” (MMT) grotesque: “It takes ideas that have a little bit of validity and extends them to a grotesque point
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