If MMT has won, why is Biden offsetting the infrastructure bill with tax increases?

If MMT has won, why is Biden offsetting the infrastructure bill with tax increases?

— Sean Tuffy (@SMTuffy) April 1, 2021

Since the beginning of 2021
– US Congressional Blue Wave confirmed
– Democratic President inaugurated
– $2T 3rd Stimulus Plan announced
– $2T Infrastructure Plans announced
– 4th Stimulus Plan floated
– $600B spent into economy via TGA
– and the Dollar has…risen… pic.twitter.com/szQOxfQ6qs

— Santiago Capital (@SantiagoAuFund) April 2, 2021

*does not include Joe Biden’s $4TN pic.twitter.com/MXBtFRV6ZE

— Don Draper (@DonDraperClone) April 2, 2021

The biggest holders of US debt are neither China nor the Fed.

The biggest holders of US debt are American investors and institutions.

China is not even the largest foreign holder (it is Japan) pic.twitter.com/zUmJUKSeoy

— Daniel Lacalle (@dlacalle_IA) April 2, 2021

Republicans responding to bidens infrastructure proposal pic.twitter.com/YIFcwP5fx2

— The Great Martis (@great_martis) April 1, 2021

Funny how people are worried if the Fed made any changes when the economy is reopening with people going back to work. Then there’s $1.9t stimulus done, $2.5t now proposed, and $1t more hinted coming later this year. And those critics have never seen inflation in their lives

— Thomas Thornton (@TommyThornton) April 2, 2021

US 2y yields jump to 18.4bps after outstanding US jobs data. pic.twitter.com/EMvmb10uMm

— Holger Zschaepitz (@Schuldensuehner) April 2, 2021

Global GDP will likely rise enough to fully recover from 2020 slump. However, the jobs recovery is much slower and paindul, and that is what we should be worried about, not aggregate GDP driven by debt and government spending. pic.twitter.com/PAgCv7bKFk

— Daniel Lacalle (@dlacalle_IA) April 2, 2021

INFLATION: #accelerating, reiterated (since JUN 2020) pic.twitter.com/jDDyOObDuq

— Keith McCullough (@KeithMcCullough) April 2, 2021

Government debt as share of GDP.

Greece: 177%
Italy: 135%
Portugal: 117%
Belgium: 98%
France: 98%
Spain: 95%
UK: 80%
Hungary: 66%
Germany: 59%
Finland: 58%
Ireland: 58%
Ukraine: 50%
Netherlands: 48%
Poland: 46%
Norway: 40%
Sweden: 35%
Russia: 12%

— Win Smart, CFA (@WinfieldSmart) April 2, 2021