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This is a clear misunderstanding of Modern Monetary Theory for countries that print their own fiat currencies. See for example https://www.nytimes.com/2021/01/11/upshot/trump-economy-lessons-biden.html

In fact, taking the stance that governments should spend less and help their citizens less dampens overall economic growth because there’s a burden cost to a sick, uneducated, impoverished underclass.

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Dr. Derek Austin 🥳
Dr. Derek Austin 🥳

Written by Dr. Derek Austin 🥳

Hi, I'm Doctor Derek! I've been a professional web developer since 2005, and I love writing about programming with JavaScript, TypeScript, React, Next.js & Git.

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