I am giving just short answers to each of the frauds which we hear perpetrated all the time.
Deadly Innocent Fraud #3:
Government budget deficits take away savings.
Government budget deficits ADD to savings.
This is just so basic that it barely needs any explanation. Every year I typically receive back about a $1000 in overpaid income tax.
When that happens my bank account increases by $1000 and the government debt also increases by the same amount.
How hard is that to understand? 🙂
The 7 Deadly Innocent Frauds of Economic Policy: by Warren Mosler is available on pdf for anyone who would like the full explanation to each one.