When it comes to comparing the amounts of US gov spending to US household spending (not that I could propose a better mechanism, meaning I understand the value of framing things in such a way, and fully admit I can't think of a more salient way to do it) I'm just not a fan of comparing state level spending to household or personal finance.<p>It leads to other examples being used that just are not true. Like: "It is similar to a person using his or her credit card for a purchase (rather than cash, check, or a debit card) and not paying the full credit card balance each month".<p>I cannot sell access to my debt to pay for past debts, which is how the government has paid it's debts since 1837 (probably so long ago because that the last time we sought to destroy debt and not pay for things by monetizing debt, it caused the longest depression in American history due to Jackson's monetary policy in 1835). Nor can I create credit out of thin air, by buying treasuries my member banks. Also, I most definitely do not owe 50% of my non-intergovernmental debt to my own central bank and state and local governments and their pensions. Much less, all the while operating with a currency I control.<p>So yeah, I don't love it, but I get it.
> While the Department of the Treasury prints actual dollars, “printing money” is also a term that is sometimes used to describe a means of monetary policy, which is conducted by the Federal Reserve. Monetary policy involves controlling the supply of money and the cost of borrowing. The Federal Reserve uses monetary policy to promote maximum employment, stable prices, and moderate long-term interest rates on the behalf of the Congress. The federal government uses fiscal policy, or the control of taxation and government spending, to promote economic activity.<p>I can't help but think this is confusing as heck to most Americans.<p>I'm not sure all of the quoted statements are true. Private banks create a good chunk of the new money that goes into circulation by issuing loans. The Federal government (through the Treasury) creates still more by issuing bonds to cover deficit spending.<p>The Fed can influence the rate of money creation by setting short term rates. But the Fed can't force banks to loan money, so its power is limited. Especially so with short term rates pegged at zero for most of the last 13 years or so.<p>Although some view the Fed's QE as a form of "money printing," it's not. It's an asset swap in which the Federal reserve buys a Treasury from a bank, issuing a reserve asset as a credit to the bank. Reserve assets thereby become "trapped" inside the banking system. They are not cash and can only be used under very restricted conditions (not unlike a laundry token) at least according to some sources.
Thanks for sharing this! I spent almost an hour going thru the site. I saw all the Debt and Treasury data but didnt see anything on the Fed Balance sheet. Does anyone have good data on what the Fed owns on their balance sheet (e.g., from QE[n] and POMO)?
Interesting findings:<p>1. "Amazon Restaurant & Bar Inc" received 1.3M in FY2021 while apparently empolying only 8 people and taking a revenue of 96k (<a href="https://www.manta.com/c/mhx084z/amazon-restaurant-bar-inc" rel="nofollow">https://www.manta.com/c/mhx084z/amazon-restaurant-bar-inc</a>).<p>2. Google received 11k in the last 12 months, less than a Florida man named Christian Google.<p>3. Palantir Technologies Inc. 231.3M, versus Microsoft Corporation 357.5M in the last 12 months.
shameless plug: <a href="https://us.wikibudgets.org/w/united-states-budget-2016" rel="nofollow">https://us.wikibudgets.org/w/united-states-budget-2016</a><p>Bonus question: can you find the judicial branch and the legislative branch?
TL;DR:<p>>In 2020, the federal government collected $3.42 trillion in revenue.<p>>In 2020, the federal government spent $6.55 trillion.<p>One wonders why they bother with the effort of collecting taxes.<p>They should just borrow the entire budget and let everyone get on with their lives.<p>They'd save money in the long run: no more IRS budget.
I know a US Treasury employee that has an active felony arrest warrant in their name in a US State. They told me they only have to tell their boss if they’re arrested, not before. This person continues to wield power over mere mortals like us. The government is a joke.