Once again, I am saying M4A does NOT require tax increases because it is a deflationary event. And, once again, Greece does not issue its own currency. Greece is on the Euro. So, similar to state and municipal governments in the US, Greece really does have to issue bonds or increase taxes in order to spend, which has proven destructive as it runs a current account deficit within the eurozone. The US is the sovereign issuer of its own currency (USD), so these rules do not apply. These cases are completely unrelated.

Further, all government spending is “printing money”. Running a deficit just means the government “printed” (spent) more money over a period than it eliminated (taxed). Meaning the primary constraint on government spending is inflation. Which, as discussed previously, is the opposite risk M4A poses.

This is not super complicated. I’m not sure exactly what part of it you aren’t understanding.

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

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