Do Bond Sales & Borrowing Finance US Deficit Spending?
Professor L. Randall Wray responds to this question and debunks the misunderstandings and fallacies surrounding it.
Treasury
Towards a Libertarian/Austrian Modern Money Theory
Any time there is an MMT post, the comments are dominated by conspiracy theorists, haters of government, goldbugs, and victims of alien probings who are certain that MMT-ers are united in their effort to ramp up government until it consumes the entire economy.
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.
MMT, Models, Multidisciplinarity
The attacks on MMT are taking a comical turn. Don’t miss this rebuttal complete with an AMAZING list of reference links.
“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.
MMT 101: Response to the Critics Part 2
MMT is frequently criticized for consolidating the treasury and the central bank. In this post, we will address these issues by tackling problems surrounding the nature of money and the role of taxes, and by beginning to deal with the consolidation argument.
The Operational Reason Why Federal Taxes are Not Revenue for the Federal Government
Since this is a major topic of interest for laypersons, I’m going to explain operationally why your dollars paid in federal taxes are not spent by the federal government on anything.
