Can The US Treasury Run Out Of Money When The US Government Can't?
by Eric Tymoigne
On one side, critics argued that MMTers say nothing new when MMTers emphasize US government’s monetary sovereignty; “everybody knows this” is a common refrain. On the other side, critics argue that MMT incorrectly merges the US Treasury and Fed into a US government, which ignores the fact that the US Treasury can run out of money because it needs to tax and issue bonds first before it can spend.
Source: http://econintersect.com/pages/opinion/opinion.php?post=201903080352
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