Re: Balanced Budget and Depression

["Alan G. Isaac" <AISAAC@xxxxxxxxxxxx>]

The money supply is a stock. Tax payments are a flow.
The stock of money need not increase to maintain a flow
of tax payments.
--Alan G. Isaac

On Thu, 1 Feb 1996 08:18:37 -0500 <mosler@xxxxxxxx> said:
>I have contended that it is even simpler.  The fact is, with a fiat
>currency like the dollar, the driving force is that we all need the
>government's money to be able to pay Federal taxes.  The only source of
>dollars to pay taxes is the government.  So a balanced budget is actually
>the theoretical minimum the government can spend.