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Senate Rejects Modern Monetary Theory: Warning Against High Inflation and Debt.

The Senate resolution states that adopting Modern Monetary Theory (MMT) would be irresponsible and dangerous, leading directly to higher government deficits and significant inflation. For citizens, this means a risk of rapidly rising prices (hyperinflation) and potential future necessity for unpopular measures like tax increases or cuts to public spending to stabilize the economy. The resolution calls for adherence to mainstream fiscal and monetary policies.
Key points
The Senate recognizes that MMT poses a clear danger to the economy, potentially eroding the value of personal savings through high inflation.
Rejecting MMT aims to maintain the independence of the Federal Reserve, ensuring it can focus on keeping prices stable rather than financing government debt.
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Additional Information
Print number: 118_SRES_89
Sponsor: Sen. Braun, Mike [R-IN]
Process start date: 2023-03-01
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Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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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 118_SRES_89.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-03-01.

What are the main provisions?

Key points include:

  • The Senate recognizes that MMT poses a clear danger to the economy, potentially eroding the value of personal savings through high inflation.
  • Rejecting MMT aims to maintain the independence of the Federal Reserve, ensuring it can focus on keeping prices stable rather than financing government debt.
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 2025-12-26.

CATEGORIES

Economy Taxes