this post was submitted on 04 Nov 2023
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For those that are curious, this is possible because the US has monetary sovereignty in a fiat currency. This means that the federal government is able to allocate literally trillions of dollars more than the annual budget without harming the economy in any way, because a vast majority of US debt (and deficit) is to the US federal government.
It's completely garbage economics. Some innumerate people think that printing money indefinitely won't lead to hyper inflation.