Democrats are flirting with a dangerous economic theory

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More Democrats are willing to throw out payment plans for expensive programs due to a dangerous, fringe economic idea: modern monetary theory (MMT). Several Democrats have consulted with economist and former Bernie Sanders campaign advisor Stephanie Kelton, who's largely responsible for popularizing MMT and deficit spending. And February has already seen Rep. Alexandria Ocasio-Cortez justify the exorbitantly-priced Green New Deal by pointing to MMT.

But to know why it won't work, we have to understand what it is.

Put simply, MMT turns traditional fiscal policy on its head. We usually think Washington uses American tax money to fund programs like Medicare and national defense. But MMT adherents argue that because the U.S. government creates that money in the first place, it actually doesn't need tax revenue to fund programs, pay entitlements, or settle debts. The federal government has the power to simply issue its own money to whoever needs it. And since the U.S. government has this power, according to Kelton, expensive policies like college-for-all, military expansion, and national infrastructure development are all naturally affordable.

But much of the popular discussion around MMT stops here—perhaps because this is where it gets complicated. Some hear MMT's claim that governments can afford anything they want and deficits are irrelevant, and, thus, spending can be practically limitless. But MMT recognizes governments still have to deal with inflation. More dollars floating around translates into more people demanding scarce resources, causing prices to rise. The way MMT fights demand-fed inflation is not through "printing" less money, but rather by taking money back out of the economy through taxation. Contrary to popular media's discussion of MMT, the theory still sees taxation as a necessary policy tool.

While some disagreements between MMT economists and orthodox economists are relatively semantic, MMT really just has far too many problems in practice.

Balancing fiscal policy to control inflation requires a much less politicized budgetary process than the one we have. For MMT to work, we would first need something like a Federal Reserve for fiscal policy—which we don't have. And advocating MMT requires an unreasonably optimistic view of interest rates. So long as the growth rate exceeds the interest rate, we should always have enough cash to pay our debts. But even as progressive economist Paul Krugman notes, deficits tend to raise interest rates, slowing investment and growth.

That's where MMT faces a crisis. If debt accelerated to, say, 300 percent of GDP–– which would be sooner rather than later if something like the Green New Deal were passed and funded through deficits––and interest rates were 1.5 percentage points higher than growth, Washington would have to run a budget surplus equal to 4.5 percent of its GDP. If the U.S. had to do that today, we would have to run an $872 billion surplus. That's nearly a trillion dollars doing nothing for Americans outside of holding off an economic disaster. So when Democrats like Rep. Ocasio-Cortez use MMT to dismiss concerns about their programs causing massive deficits, they fundamentally misunderstand its principles.

Selling MMT to the public is a way to endorse popular, expensive programs without admitting tradeoffs.

Most economists aren't persuaded by MMT. No significant academic journals have published MMT papers. But ambitious Democrats don't need to worry about winning over economists. Selling MMT to the public is a way to endorse popular, expensive programs without admitting tradeoffs.

This strategy will backfire economically —but it could politically, too. Back in the 2018 primary elections, candidates endorsed by the moderate New Democratic caucus won 86 percent of their races, while only 40 percent of the candidates endorsed by the Bernie Sanders-esque Our Revolution organization won nominations. In the November general elections, 23 New Democrats flipped seats from red to blue, while the Revolution progressives flipped zero.

Moderates found more success than progressives because the vast majority of Americans don't feel represented by the right-populist Republicans or progressive Democrats. Rep. Ocasio-Cortez may be setting the tone for the rest of her party, but when we step out of our social media bubbles, we find most Americans want more civil leadership and fewer war cries from Washington. And given 71 percent of Americans now think addressing the debt should be among the federal government's top three priorities, Democrats should rise above provocative "sloganeering" and champion fiscal responsibility in the 2020 campaigns, formerly a standard GOP platform, and potentially win over disillusioned Republican voters.

There are plenty of plans for pursuing progressive goals like better healthcare coverage and environmental sustainability that don't rely on a widely-dismissed calculus or require America to risk a serious economic crisis. Democrats would be smart to chase after one of those instead.

John Kristof is a research fellow at the Sagamore Institute and a contributor for Young Voices, writing frequently on fiscal policy and other economic issues. Follow him on Twitter.

5 most HORRIFIC practices condoned by WPATH

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Whatever you know about the "trans movement" is only the tip of the iceberg.

In a recent Glenn TV special, Glenn delved into Michael Schellenberger's "WPATH files," a collection of leaked internal communications from within the World Professional Association for Transgender Health (WPATH). Glenn's research team got their hands on the WPATH files and compiled the highlights in Glenn's exclusive PDF guide which can be downloaded here. These documents reveal the appalling "standards" created and upheld by WPATH, which appear to be designed to allow radical progressive surgeons to perform bizarre, experimental, and mutilating surgeries on the dime of insurance companies rather than to protect the health and well-being of their patients. These disturbing procedures are justified in the name of "gender-affirming care" and are defended zealously as "life-saving" by the dogmatic surgeons who perform them.

The communications leaked by Schellenberger reveal one horrific procedure after another committed in the name of and defended by radical gender ideology and WPATH fanatics. Here are five of the most horrifying practices condoned by WPATH members:

1.Trans surgeries on minors as young as 14

One particular conversation was initiated by a doctor asking for advice on performing irreversible male-to-female surgery on a 14-year-old boy's genitals. WPATH doctors chimed in encouraging the surgery. One doctor, Dr. McGinn, confessed that he had performed 20 such surgeries on minors over the last 17 years!

2.Amputation of healthy, normal limbs

BIID, or Body Integrity Identity Disorder, is an “extremely rare phenomenon of persons who desire the amputation of one or more healthy limbs or who desire a paralysis.” As you might suspect, some WPATH members are in favor of enabling this destructive behavior. One WPATH commenter suggested that people suffering from BIID received "hostile" treatment from the medical community, many of whom would recommend psychiatric care over amputation. Apparently, telling people not to chop off perfectly healthy limbs is now considered "violence."

3.Trans surgeries on patients with severe mental illnesses

WPATH claims to operate off of a principle known as "informed consent," which requires doctors to inform patients of the risks associated with a procedure. It also requires patients be in a clear state of mind to comprehend those risks. However, this rule is taken very lightly among many WPATH members. When one of the so-called "gender experts" asked about the ethicality of giving hormones to a patient already diagnosed with several major mental illnesses, they were met with a tidal wave of backlash from their "enlightened" colleges.

4.Non-standard procedures, such as “nullification” and other experimental, abominable surgeries

If you have never heard of "nullification" until now, consider yourself lucky. Nullification is the removal of all genitals, intending to create a sort of genderless person, or a eunuch. But that's just the beginning. Some WPATH doctors admitted in these chatlogs that they weren't afraid to get... creative. They seemed willing to create "custom" genitals for these people that combine elements of the two natural options.

5.Experimental, untested, un-researched, use of carcinogenic drugs 

Finasteride is a drug used to treat BPH, a prostate condition, and is known to increase the risk of high-grade prostate cancer as well as breast cancer. Why is this relevant? When a WPATH doctor asked if anyone had used Finasteride "to prevent bottom growth," which refers to the healthy development of genitals during puberty. The answer from the community was, "That's a neat idea, someone should give it a go."

If your state isn’t on this list, it begs the question... why?

The 2020 election exposed a wide range of questionable practices, much of which Glenn covered in a recent TV special. A particularly sinister practice is the use of private money to fund the election. This money came from a slew of partisan private sources, including Mark Zuckerberg, entailed a host of caveats and conditions and were targeted at big city election offices— predominantly democratic areas. The intention is clear: this private money was being used to target Democrat voters and to facilitate their election process over their Republican counterparts.

The use of private funds poses a major flaw in the integrity of our election, one which many states recognized and corrected after the 2020 election. This begs the question: why haven't all states banned private funding in elections? Why do they need private funding? Why don't they care about the strings attached?

Below is the list of all 28 states that have banned private funding in elections. If you don't see your state on this list, it's time to call your state's election board and demand reform.

Alabama

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Arizona

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Arkansas

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Florida

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Georgia

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Idaho

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Indiana

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Iowa

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Kansas

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Kentucky

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Louisiana

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Mississippi

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Missouri

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Montana

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Nebraska

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North Carolina

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North Dakota

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Ohio

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Oklahoma

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Pennsylvania

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South Carolina

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South Dakota

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Tennessee

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Texas

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Utah

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Virginia

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West Virginia

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Wisconsin

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POLL: Was Malaysia Flight 370 taken by a WORMHOLE?

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It's hard to know what's real and what's fake anymore.

With the insanity that seems to grow every day, it is becoming more and more difficult to tell what's true and what's not, what to believe, and what to reject. Anything seems possible.

That's why Glenn had Ashton Forbes on his show, to explore the fringe what most people would consider impossible. Forbes brought Glenn a fascinating but far-out theory that explains the decade-old disappearance of Malaysia Airlines Flight 370 along with riveting footage that supposedly corroborates his story. Like something out of a sci-fi novel, Forbes made the startling claim that Flight 370 was TELEPORTED via a U.S. military-made wormhole! As crazy as that sounds, the video footage along with Forbes' scientific research made an interesting, if not compelling case.

But what do you think? Do you believe that the U.S. Government can create wormholes? Did they use one to abduct Flight 370? Is the government hiding futuristic tech from the rest of the world? Let us know in the poll below:

Does the military have the capability to create wormholes?

Is the U.S. military somehow responsible for what happened to Malaysia Flight 370?

Is the military in possession of technology beyond what we believe to be possible?

Do you think American military tech is ahead of the other superpowers?

Do you think there would be negative consequences if secret government technology was leaked? 

School today is not like it used to be...

Glenn recently covered how our medical schools have been taken over by gender-affirming, anti-racist, woke garbage, and unfortunately, it doesn't stop there. Education at all levels has been compromised by progressive ideology. From high-level university academics to grade school, American children are constantly being bombarded by the latest backward propaganda from the left. Luckily, in the age of Zoom classes and smartphones, it's harder for teachers to get away their agenda in secret. Here are five videos that show just how corrupt schools really are:

Woke teacher vandalizes pro-life display

Professor Shellyne Rodriguez, an art professor at Hunter College in New York, was caught on camera having a violent argument with a group of pro-life students who were tabling on campus. Rodriguez was later fired from her position after threatening a reporter from the New York Post, who was looking into this incident, with a machete.

Woke professor argues with student after he called police heroes

An unnamed professor from Cypress College was captured having a heated discussion with a student over Zoom. The professor verbally attacked the student, who had given a presentation on "cancel culture" and his support of law enforcement. The university later confirmed that the professor was put on leave after the incident.

Professor goes on Anti-Trump rant 

Professor Olga Perez Stable Cox was filmed by a student going on an anti-Trump rant during her human-sexuality class at Orange Coast College. This rant included Professor Cox describing Trump's election as "an act of terrorism”. The student who filmed this outburst was suspended for an entire semester along with several other punishments, including a three-page apology essay to Professor Cox explaining his actions. Orange Coast College continues to defend Professor Cox, citing the student code of conduct.

Unhinged teacher caught on video going on left-wing political rant

Lehi High School teacher Leah Kinyon was filmed amid a wild, left-wing rant during a chemistry class. Kinyon made several politically charged remarks, which included encouraging students to get vaccinated and calling President Trump a "literal moron." Despite her claims that the school admins "don't give a crap" about her delusional ramblings, a statement from Lehi High School reveals that she "is no longer an employee of Alpine School District."

Far-left Berkeley law professor melts down when a Senator asks her if men can get pregnant

During a Senate Judiciary Committee hearing, Berkeley Law Professor Khiara M. Bridges was asked by Missouri Senator Josh Hawley to clarify earlier statements involving "people with a capacity for pregnancy." The senator's line of questioning is met with a long-winded, frantic rant accusing the senator of being transphobic. When Sen. Hawley tries to clarify further, Professor Bridges makes the outrageous claim that such a line of questioning somehow leads to trans suicides.