A Green New Deal is not difficult to finance. The European political elite simply do not want one, instead creating a Brown Deal giving billions of public money to corporations involved in fossil fuels, cars, airlines, airports, tourism.
Given the outcome of the elections, there seems little hope for the amount of stimulus the economy needs. The importance of increasing the use of worksharing, which is already part of the unemployment insurance system in most states.
The depth of the crisis has been a glue for the Democratic Party. But Republicans will not resign to defeat. The first proof will be the mid-term elections in the autumn of 2022.
The essential claim of Modern Money Theory (MMT) is sovereign currency issuing governments, with flexible exchange rates and without foreign currency debt, are financially unconstrained.
