I provide Phil Lawn’s detailed analysis of modern Money (the ERA power point) It actually reaches back into history to elucidate the emergence and uses of money which I think aids one’s understanding of this facet of our a familiar form of exchange (money) . So, as a country who issues its own sovereign currency we actually will not be expecting our kids to pay off our government’s large deficits long after we have passed. This is despite, the usual fear campaigns often pushed relentlessly by some media and political conservatives. Such fear campaigns about our countries public debt usually begin to pick up prior to elections . We may again witness such antics, given our current position in the electoral Cycle.
These are Phil Lawn's notes in the word doc below and should be read in conjunction with the large Power point slide show the "ERA Presentation", which he made in March 2024. See his Notes & the large "ERA presentations - below: