Its the goldbugs BD, they hate me lol.
The US govt. only issues bonds to soak up excess reserves to allow the fed target rate to be hit, otherwhise the excess reserves would be bid down to 0% in the interbank market as banks try to find a bid for the money.
This is of course what has already happened and why they thought they'd have a crack at QE, but monetary policy simply doesnt work past the 0% bound, fiscal policy is the only other alternative, and theres nothing wrong with that, the most effective way is simply cutting taxes (despite what the deficit doomsayers/hyperinflationist persistently shout).
Yes the American public should be shouting louder, but it doesnt help them when they are bombarded with all major parties adressing them on national tv saying 'America is about to run out of money'.
Business spend their money more wisely because they are into profit making and they cant create that money themselves. The government doesnt need to make profit, doesnt need to run surpluses, (except when the economy is seriously overheating) we arent saving money for a rainy day and paying down our 'debts', absurd.
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