Tag: Stephanie Kelton

Modern Monetary Theory Cuts Deficits That Matter

The Deficit Myth

The federal government creates U.S. dollars, and is the only entity that can do so. When the government spends money, it creates the money to spend. … The money then goes into the bank account of the payee. The government doesn’t have to tax or borrow to get money. It just has to spend, and it can never run out.