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Yep. When congress (or any government) passes bills with spending implications, following through with the associated payments should be automatic/mechanical, not relitigation of the issue. To pretend the central bank/treasury is anything but the check writer for government spending is just fiction.

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Pretending that major economies are going to pay back their debt in anything close to money with similar purchasing power is also fiction. At this point, let's repeal the personal income tax (to free the people) and print currency instead of the game of loaning it into existence. The debt ceiling charade is a distraction which causes economic disruption.

MMT economic theory is like this, except they think taxes are still useful for controlling inflation.

Taxes can control inflation the problem with MMT is they naively think democratically elected governments can raise taxes without losing government to someone who promises not to.

Inflation would be a train wreck and the dollar could then be used as toilet paper. Most other nations would move to using other currencies since holding on the depreciating dollar would be a liability on top the liability it is already is proving to be. (sanctions happy freezing ,etc)

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