This is Modern Monetary Theory (MMT). I recommend “The Deficit Myth” by Stephanie Kelton
It helped me to realize that a federal government that’s in control of their own money doesn’t use or even have money, and basic terms that we take for granted mean something different in that context. A federal government creates money through spending and destroys money through taxes. It is necessary for a federal government to spend money in order for money to exist in the economy. So a national debt just means that the federal government is creating more money that is destroying
This is Modern Monetary Theory (MMT). I recommend “The Deficit Myth” by Stephanie Kelton
It helped me to realize that a federal government that’s in control of their own money doesn’t use or even have money, and basic terms that we take for granted mean something different in that context. A federal government creates money through spending and destroys money through taxes. It is necessary for a federal government to spend money in order for money to exist in the economy. So a national debt just means that the federal government is creating more money that is destroying