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How to fix the economy (lemmy.world)

submitted 3 days ago by [email protected] to c/curatedtumblr

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[–] [email protected] 7 points 2 days ago

We can, and we do, for virtually everything.

That’s precisely why the DOGE takeover of the payment system is so scary. Government money isn’t being transferred from some limited pool of taxpayer funds, it’s spent into existence out of thin air.

We also borrow, in the form of bonds, but that’s mostly to tame inflation by taking currency temporarily out of circulation with the promise of a later profit for the bond holder. (And also to encourage long-term investment in domestic currency.)