3min chapter

Macro N Cheese cover image

Can We Make Money Work For Us? with L. Randall Wray

Macro N Cheese

CHAPTER

Is There Any Such Thing as Deficit Spending?

The question that most folks have at this time is the unrivalled monopoly power of the establishment with the media. And penetrating that requires far more resources than we have here. All government spending takes exactly the same form as i was saying before. The fed will credit the reserves of a private bank, and the private bank will credit the deposit account of the reciient of the government spending. This is the way all government spending occurs. In a pinch, it might be ok for the govermenr to borrow a bit. So you issue some debt, like in recessions or in a health pandemic,. It might be oc to borrow temporarily. And then you need to offset

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