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by hgomersall
498 days ago
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It's important framing as it counters the prevalent view that the government can only spend once they have scraped together sufficient buckaroos into the necessary account, either through tax income or borrowing. From what you say, you get it, but most people do not. It's also important because it recognises that spending must preceed tax as a matter of causality. By necessity the consolidated government's cash accounts must be negative. |
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