Trump embraces leftist view that deficits don’t matter

SACRAMENTO – There’s a newly popular leftist economic concept known as Modern Monetary Theory, which argues that because government prints its own money it doesn’t have to worry about running up deficits or even raising taxes to pay for more government spending. According to this idea, the currency is a public monopoly, so government has few restrictions on its funding. It can’t go bankrupt because it owns the printing presses.
The burgeoning economic justifications for t