Rand Paul: “Republicans like to mock modern monetary theory--the idea that government can print money with impunity and that…”

“Republicans like to mock modern monetary theory--the idea that government can print money with impunity and that government can spend whatever it wants without the need to tax. Modern monetary theory is basically the Dick Cheney ``deficits don't matter'' crowd, trussed up with a new fancy title. Most Republicans rightly lampoon this quackery; that is, when they are not practicing the quackery themselves. Today, many of these same Republicans will vote for a bill that makes modern monetary theory look like child's play in comparison. The monster spending bill presented today is not just a ``deficits don't matter'' disaster, it is everything Republicans say they don't believe in. This bill is free money for everyone. Proponents don't care if you are fully employed or own your own house or own your own business. ``Free money for everyone,'' they cry. And yet, if free money were the answer and if money really grew on trees, why not give more free money? Why not give it out all the time? Why stop at $600 a person? Why not $1,000? Why not $2,000? Maybe these new free-money Republicans should join the ``everybody gets a guaranteed income'' caucus. Why not $20,000 a year for everybody? Why not $30,000? If we can print up money with impunity, why not do it? The Treasury could just keep printing the money; that is, until someone points out that the Emperor has no clothes and that the dollar no longer has value.…”