The Myth of Balanced Budgets

ByPrimary Researcher

Executive Summary

  • Balanced budgets function in a set of assumptions that the central bank is private and money is created with debt.

Introduction

Why this is a myth is explained in the following quotation.

“You’re having government spending on the economy being cut almost everywhere. That means that the only source of spending for growth has to come from borrowing from the banking system.” ~ Michael Hudson / AZ Quotes