Biden's transition team leader says that, if elected, Biden will
cancel promises to help Americans in the name of deficit reduction.
Another way to reduce the deficit would be to tax the rich to grab
back this year's enormous handouts. Or transferring spending from the
military. But those wouldn't please the plutocrats,
Modern monetary theory explains that the whole idea that "there is no
money available to spend" is misguided. Creating more money is fine
if it activates idle capacity. If it exceeds the idle capacity, it
can cause inflation.