This country's deep *denial* about the government's role in our economy is breathtaking. This WaPo piece, from early in Biden's term, is just as relevant today. "Public authority [has] always structured growth — and shaped the allocation of its rewards. . . Public power made our markets and regularly picks winners and losers."

#realworldmoney #whatispublic

https://www.washingtonpost.com/outlook/2021/03/29/government-has-always-picked-winners-losers/

Did you know that paper bills are functionally different from the money in your bank account? Or that banks literally *create* dollars when they extend loans--and that the U.S. government creates dollars when it spends? It's true: the U.S. does NOT rely on tax revenues to fund its spending. We've got receipts!

#realworldmoney #whatispublic? #MMT