Oddbean new post about | logout
 There is no debt.  Any nation with a sovereign currency has no financial constraints.  It prints its own money .  All dollars are produced by the US govnt as and when they see fit.  That they claim  they need to 'borrow' from private sector the currency that they print is a farce.   A king doesn't borrow gold coins with his head on it to pay of his debts in gold coins to himself.  Well  it does now.  That's the farce.