Teeter-Totter Economics

Though the title is silly, the topic is not. Here is a nice, straightforward, and simple post from my professor on the basics of how the government deficit works. The government sector is not the same as the private sector and is not subject to the same constraints. The government's deficit is our surplus.

Note: this argument does not support either political party. It is merely a description of how the process works.

What Happens When the Government Tightens its Belt?

What Happens When the Government Tightens its Belt? (Part II)


And to continue on with the MMT primer:
The Basics of Macro Accounting