Front Burner

Never mind the deficit?

Canada is spending a tremendous amount of money to get the country through the COVID-19 pandemic, but a growing movement says we can shed our old worries about the federal deficit. Find out more about modern monetary theory.
A Canadian fifty dollar banknote depicting Former Prime Minister William Lyon Mackenzie King is arranged for a photograph in Toronto, Ontario, Canada. Photographer: Brent Lewin/Bloomberg (Brent Lewin/Bloomberg)

Canada is spending a tremendous amount of money to get the country through the COVID-19 pandemic, but a growing movement says we can shed our old worries about the federal deficit. Modern monetary theory argues that since we control our own currency, the country can create more money and never go broke. Today, Front Burner examines this controversial idea and how it relates to Canada.