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What is the National Debt then?
The national debt is nothing more than the dollars spent by the government that have not yet been used to pay taxes. They are in the economy as cash and as dollars in exchange settlement accounts and securities accounts (Australian Government Securities) on the Reserve’s books. It functions as the net money supply.
Further Reading
Public Debt Explained in a Tweet
Is Government Debt like My Debt?
Debt, Deficits and MMT
The national debt is nothing more than the dollars spent by the government that have not yet been used to pay taxes. They are in the economy as cash and as dollars in exchange settlement accounts and securities accounts (Australian Government Securities) on the Reserve’s books. It functions as the net money supply.
Further Reading
Public Debt Explained in a Tweet
Is Government Debt like My Debt?
Debt, Deficits and MMT
