THE DEFICIT MYTH: You may not recognize Stephanie Kelton, but she knows you because you are a “currency user,” whereas government is a “currency issuer.” Therefore, according to Kelton and other Modern Monetary Theorists (MMT), Washington can spend and borrow without limit and without worry of ever going bankrupt.

And the day after the 2020 election, I will awaken with a third ear growing out of my forehead. Kelton on the other hand could wake up that same day headed to the White House as a key economics adviser in the Biden presidency. Odds on the latter are better than those for the former, so you might want to become familiar with MMT.