By Arliss Bunny, Melissa Irwin
"The clever Bunny's consultant to Debt, Deficit and Austerity" assumes that you've got a true existence (meaning you are not a wonk or a blogger) and that you've a part hour or much less to determine why all these things everyone seems to be announcing approximately debt, deficit and austerity is beginning to odor like a 5 day-old fish. writer, Arliss Bunny, suspects that, not like politicians and pundits, you may have genuine mind job. Melissa Irwin's hilarious illustrations might annoy Arliss yet you may be entertained. "The shrewdpermanent Bunny's consultant" is brief, uncomplicated and actually brings the humorous. What extra might you ask from a ebook approximately financial coverage? heavily, how usually has Paul Krugman made you snigger? precisely. learn this e-book.
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Extra info for The Smart Bunny’s Guide to Debt, Deficit and Austerity
Sample text
Fiat money means that the government does not need to take in any money in order to spend money. It does not need to collect ANY taxes except as a lever by which to control the economy and exert a change in employment or inflation. For a country with a fiat currency, spending is not related to money collected. At all. Ever. Period. For the advanced beginners you can think of fiat money like this, federal spending is the creation of new money while taxation is the destruction of money. This is the hardest lesson in this whole book.
Facepalm* Deficit Spending You already know about how deficit spending works because you know that all Lyle had to do was to plant more carrots in order to have additional carrots to spend into the economy. When speaking about the federal government, however, the term “deficit” is usually used in conjunction with talking about the big steaming pile of what we graciously call the federal budget. A so-called “deficit” is when the government spends more into the economy than it receives (or, if you have been paying attention destroys) in taxes.
Want to know why? Remember that whole thing called supply and demand? Well, inflation happens when there is more demand than there is supply. Supply shortages happen when there are too few people to fill jobs needed to drive more output or when companies have reached their maximum industrial capacity. In short, inflation happens because we can’t make more stuff* so the prices for stuff go up. ) It doesn’t take a rocket scientist to see that in an economy where unemployment is high and industrial capacity has plenty of room, inflation will be low–no matter how high the government’s debt load.