Warren Moslers 7 Seven Deadly Frauds of Economic Policy #3

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.
Fact:
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.

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