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Posted by WARREN MOSLER on March 11th, 2010
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MMT: Taxes function to regulate aggregate demand, and not to raise revenue per se.
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The funds to pay taxes and buy government securities come from government spending.
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March 11th, 2010 at 5:44 pm
New Z1 is out showing federal deficit has fallen below 1 trillion, on an annual basis, in the 4th quarter. The federal government has eased up on the gas.
Also total new borrowing for 2009 dropped to lowest since 2000.
http://federalreserve.gov/releases/z1/Current/z1r-2.pdf
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March 16th, 2010 at 5:30 pm
They need to quit spending “Borrowed” fed notes, and start spending non-interest-bearing Treasury bills. Use them to pay-off high-rate treasury bonds,saving us billions.
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