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Cake day: July 4th, 2023

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  • TheWorstMailman@lemm.eetomemes@lemmy.worldTake your FICO and shove it!
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    9 months ago

    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