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US Senate Resolution Calling to Abandon Modern Monetary Theory

The U.S. Senate is considering a resolution recognizing the duty to abandon Modern Monetary Theory (MMT). The document emphasizes that accepting MMT would lead to higher deficits and higher inflation. The resolution cites economists warning that the implementation of MMT would pose a clear danger to the United States economy and could lead to hyperinflation.
Key points
The resolution states that MMT leads to higher deficits and inflation, and that large deficits are unsustainable and dangerous.
Cited experts argue that MMT would end the Federal Reserve's independence, forcing it to finance the government rather than maintain price stability.
The text warns that MMT could destroy foreign confidence in U.S. finances, lead to a collapsing exchange rate, and crowd out private sector investment.
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Expired
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Additional Information
Print number: 117_SRES_136
Sponsor: Sen. Braun, Mike [R-IN]
Process start date: 2021-03-25
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OFFICIAL LEGAL TITLE

A resolution recognizing the duty of the Senate to abandon Modern Monetary Theory and recognizing that the acceptance of Modern Monetary Theory would lead to higher deficits and higher inflation.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_SRES_136.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-03-25.

What are the main provisions?

Key points include:

  • The resolution states that MMT leads to higher deficits and inflation, and that large deficits are unsustainable and dangerous.
  • Cited experts argue that MMT would end the Federal Reserve's independence, forcing it to finance the government rather than maintain price stability.
  • The text warns that MMT could destroy foreign confidence in U.S. finances, lead to a collapsing exchange rate, and crowd out private sector investment.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Braun, Mike [R-IN].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2026-01-02.

CATEGORIES

Economy