Chuck E. Cheese is a great analogy for the fiscal policy of the federal government because they are both “currency” issuers. The reason why this is all so important to understand is that MMT has far ranging implications for the progressive movement not just nationally but globally. Appreciating the reality MMT represents is a fundamental change in how we approach our government and its spending. It eliminates the debate over HOW we’re going to “pay” for something, and lets us ask if program X will improve our lives, then why is the government refusing to spend when it has no constraint? That will drive this revolution beyond complaining about the state of the world to demanding that the government spend in support of the public purpose.
The Federal Government is like Chuck E. Cheese: MMT as Analogy