Modern Monetary Theory is an idea cooked up by progressives that gave Biden an intellectual defense for his $4 trillion spending spree.

This has turned out to be a farcical idea. Joe’s spending spree ignited a 9% inflation outburst and has already added more than $2 trillion of interest expenditures to the federal ledger over the next decade.   That’s an economy-crippler.

Warren Mosler, the hedge fund manager who is the intellectual godfather of MMT, says the wheels have come off. He now complains to Bloomberg News that Biden and Congress have spent like “a drunken sailor.” He’s now worried that the “toxic mix” of deficits and debt could crash the economy.

Now he tells us!