Stephanie Kelton
The federal government does not need your tax dollars to pay its bills because it literally prints the money. Uncle Sam can never go broke, but our misunderstandings about deficits keep us needlessly impoverished.
The federal government is a currency issuer rather than a currency user, meaning it does not need to collect taxes or borrow money before it can spend.
Every government fiscal deficit mathematically creates an exact, dollar-for-dollar financial surplus in the private sector.
The true limit on public spending is not the availability of money but the availability of real productive resources like labor and materials, which manifest as inflation when exhausted.