This entry is a part of our larger series … “There is no ‘Debt Doomsday’ Approaching“. The first entry in this series can be found here at this link.
We continue the discussion from the last entry.
Thus far in this series, we have used Mr. Delzio’s work to illustrate how the United States economy actually functions.
We have detailed the two entities involved. There is the issuer of United States Dollars; namely the Federal Government. And there is everyone else, the “Non-Federal Government” that uses dollars. Both the user, and issuer of dollars can “print dollars” or ‘deficit’ spend. But since the “Non-Federal Government” can not issue dollars, the “Non-Federal Government” must worry about balancing their own budget.
We have detailed that since the Federal Government can issue Dollars, it’s concern becomes balancing the aggregate demand of the entire economy. It does this, as this series has pointed out, through two branches of the U.S. Federal Government; namely, the Fiscal Service and Monetary Service.
Remember that the entire focus and surrounding context of this series we are presenting is to demonstrate that there is no “Debt Doomsday” approaching for the United States economy; in which the Federal Government is trying to ‘raise revenue’ to pay back ‘debt’. A story that many who peddle fear and doom like to sell the uninitiated.
So we continue with today’s entry … in which Mr. Delzio discusses exactly how the debt is paid. When you fully understand this concept, you can see that it’s not really a ‘debt’ in the way we usually think of the word.
More like a … keystroke ‘deb(i)t’ on Dollars, over which the Federal Government has a complete and total monopoly …
(After the following video, you can find the next video in this series at the following link …)