10 Lessons from the book The Deficit Myth: Modern Monetary Theory and the Birth of the People’s Economy

the government relies on two sources of funding: it can raise your taxes, or it can borrow your savings.

MYTH #4: Government deficits crowd out private investment, making us poorer. REALITY: Fiscal deficits increase our wealth and collective savings.

Government financial balance + Nongovernment financial balance = Zero

MYTH #3: One way or another, we’re all on the hook. REALITY: The national debt poses no financial burden whatsoever.

MYTH #5: The trade deficit means America is losing. REALITY: America’s trade deficit is its “stuff” surplus.

prioritizes human outcomes while at the same time recognizing and respecting our economy’s real resource constraints.

Taxpayers weren’t funding the government; the government was funding the taxpayers.

The tax isn’t there to raise money. It’s there to get people working and producing things for the government.

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