Do Bond Sales & Borrowing Finance US Deficit Spending?
Professor L. Randall Wray responds to this question and debunks the misunderstandings and fallacies surrounding it.
Deficit
An Alternative Meme For Money, Part 7: Framing Deficits
A government deficit will result if the nongovernment sector has a surplus—a perfectly sustainable balance.
A Primer on Government Surpluses
It is difficult to believe that our economy can continue to grow robustly as the government sucks disposable income and wealth from the private sector by running surpluses.
The Rotating Hans Grubers of the Debt Ceiling Debate
As this current installment of the debt ceiling franchise draws to an unsatisfactory close — let us vow to make this our last debt ceiling showdown.
Countering the Debt Ceiling Madness
If you’ve been watching the news, you’ll have noticed that the narrative of the moment is the debt ceiling.
Where Does A Bullet Go?
We need to slash our obscenely large and lethal military, but cutting military spending means less money entering our communities.
Taxes Don’t Fund Federal Spending
Our federal government doesn’t need revenue. So why the chatter about how will the government get money to fund its operations?
“Debt” Ceilings for Dummies
Beautifully simple are a sovereign nation’s sectoral balances. They readily demonstrate that the government’s negative is the public’s positive, and vice versa.
The National Debt and Other Red Herrings
Discussions of inflation are often laden with an air of superstition and moral panic. Like all such things they can only persist in the face of misunderstanding and rumor.
Let’s Play the Pay For Game
Admit that taxes don’t “pay for” anything and that all government spending is paid for in one way and one way only—the Federal Reserve credits the appropriate bank accounts.
