George Hall on the History of the U.S. National Debt and Government Financing
Macro Musings with David Beckworth
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How Government Finances Itself
John Avlon: How does a government fund itself? What are the various tools or options at its disposal? Keynes has a beautiful explanation of this, he says. He argues that government finances itself by taking real resources from the public and then handing the public one of three pieces of paper. Avlon: At the end of the day, I'm going to have to pay for a war or to pay for COVID. And it's a question of what piece of paper are we going to hand them in return?
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