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</o:shapelayout></xml><![endif]--></head><body lang=EN-US link="#0563C1" vlink="#954F72" style='word-wrap:break-word'><div class=WordSection1><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>Modern monetary theory holds that the federal government cannot default on its debt payments, because all it needs to do is print more money.<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>Post modern monetary theory (PMMT) holds that it doesn’t work that way, and that government debt does matter.<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>It appears that the American public has shifted toward PMMT in the past decade. From a Rasmussen poll reported today:<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><img width=617 height=342 style='width:6.427in;height:3.5625in' id="Picture_x0020_1" src="cid:image002.jpg@01DA05A8.BF3B9A90"><o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>Oy vey. The libertarians have been right all these decades.<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>spike<o:p></o:p></p></div></body></html>