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Why I’m Not Worried About America’s Trillion-Dollar Deficits

06/10/20 | by david2 [mail] | Categories: General

Link: https://www.nytimes.com/2020/06/09/opinion/us-deficit-coronavirus.html

Governments in nations that maintain control of their own currencies — like Japan, Britain and the United States, and unlike Greece, Spain and Italy — can increase spending without needing to raise taxes or borrow currency from other countries or investors. That doesn’t mean they can spend without limit, but it does mean they don’t need to worry about “finding the money,” as many politicians state, when they wish to spend more. Politics aside, the only economic constraints currency-issuing states face are inflation and the availability of labor and other material resources in the real economy.
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