#thefederaldeficitisourmoney — Public Fediverse posts
Live and recent posts from across the Fediverse tagged #thefederaldeficitisourmoney, aggregated by home.social.
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The dominant economics paradigm of our time (the “mainstream”) gets many things wrong; one of the worst is that it ignores double-entry accounting. Meaning what, exactly? Well, the federal budget deficit is only the debit side of the currency-creation ledger; the asset side is the supply of US dollars! And mainstream economics doesn't understand this—or teach it! 2/3
#TheDeficitMyth #TheFederalDeficitIsOurMoney #Deficit #Economics #DoubleEntryAccounting #BothSidesOfTheStory #MMT
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Most people think reducing the federal budget deficit is a good thing. Makes sense, right? I mean, if I’m broke & have bills, that’s bad! But there’s a problem: The analogy between my finances and those of a currency-issuing government is false. Wrong. Illogical. So why do so many people keep getting it wrong? Turns out, they’ve been misled—by economists! 1/3
#TheFederalDeficitIsOurMoney #TheDeficitMyth #Deficit #Economics #DoubleEntryAccounting #BothSidesOfTheStory #MMT #PostKeynesianEcon