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(lemmy.dbzer0.com)
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this post was submitted on 07 May 2025
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There is a fundamental difference. If I want to buy $20 worth of stuff from the store, I need to have $20. The government just spends it, creates the money out of thin air. And it does, litteraly go back to thin air when the government takes it back. The is fundamental to the way the economy actually works - if the government had to actually physically have the money in an account in order to spend it, spending would become massively problematic and unweildly.
I don't think you understand "the way the economy actually works" if that's your take on how our money works and how govt spending works.
Also, if we're talking about the USA, every state has some legal provisions regarding a balanced budget (except maybe VT?). So the state governments do account for having the budget balanced>
You're right we run deficits in our budget but that doesn't mean there isn't debt being accounted for. You're basically saying that our money magically ceases to exist when it's collected as tax and that's just wrong full send.
Ok, I will admit that I am not an economist..