Thread by @netbacker

The U.S. federal government always spends dollars it doesn’t have, simply because, being Monetarily Sovereign, it creates dollars, ad hoc, by spending dollars. Spending, or more specifically, paying bills is the federal government’s money-creation method.

(Anyone who believes the government spends dollars it has, is welcome to tell us how many dollars the U.S. Treasury has. You might be surprised at not being able to find an answer. But why would a government need to have dollars, if it can create dollars, endlessly?)
#LearnMMT

What will it take for the American public to understand that the federal debt is nothing more than deposits in T-security accounts?These accounts are quite similar to bank savings accounts, that easily are paid off simply by returning dollars residing in those T-security accounts

What will it take for the public to understand that a federal deficit is income for the economy, and the greater the deficit the more income benefits the economy?

What will it take for the public to understand that the lack of deficit spending leads to recessions and depressions and increased deficit spending cures recessions and depressions?

What will it take for the public to understand that the politicians, media, and economists have been paid by the rich to tell “The Big Lie,“ (that federal Govt can run short of its own sovereign currency), so that social benefits like Social Security, Medicare etc can be cut?

How much evidence is necessary for the public finally to realize that the federal government has absolute control over the value of the dollar, so can cause or cure inflation at will?

Really, at long last, what will it take?