A $1000 Treasury bill is the buyer’s asset and the taxpayer’s liability. How do you reckon that nets to a positive?

I could respond to the rest of this post in full, but I’m going to stop right here because this question tells me that you do not understand MMT. Treasury bills are not liabilities of the taxpayer. They assets of the non-governmental sector and liabilities of the government. The government does not ‘spend’ tax dollars. Federal spending creates dollars and federal taxes destroy dollars. Full stop. Taxpayers are not ‘liable’ for federal debt. They can’t be; since tax dollars do not fund federal spending. There is a category error inherent in your question.

Corporate accountant and former auditor with degrees in philosophy and accounting.

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