Jared Bernstein Struggles to Explain Why We Don’t Just Print All of the Money the Government Uses

BERNSTEIN The U S ░░░░░░░░ can t go bankrupt ░░░░░░░░ we can print our ░░░░░░░░ money UNKNOWN It obviously ░░░░░░░░ the question why exactly ░░░░░░░░ we borrowing in a ░░░░░░░░ that we print ourselves ░░░░░░░░ m waiting for someone ░░░░░░░░ stand up and say ░░░░░░░░ do we borrow our ░░░░░░░░ currency in the first ░░░░░░░░ reporter Like you said ░░░░░░░░ print the dollar So ░░░░░░░░ does the government even ░░░░░░░░ BERNSTEIN Well um the ░░░░░░░░ so the I mean ░░░░░░░░ some of this stuff ░░░░░░░░ some of the language ░░░░░░░░ the MM some of ░░░░░░░░ language and concepts are ░░░░░░░░ confusing I mean the ░░░░░░░░ definitely prints money and ░░░░░░░░ definitely lends that money ░░░░░░░░ is why the government ░░░░░░░░ prints money and then ░░░░░░░░ lends that money by ░░░░░░░░ selling bonds Is that ░░░░░░░░ they do They they ░░░░░░░░ they they they sell ░░░░░░░░ Yeah they sell bonds ░░░░░░░░ Since they sell bonds ░░░░░░░░ people buy the bonds ░░░░░░░░ lend them the money ░░░░░░░░ so a lot of ░░░░░░░░ a lot of times ░░░░░░░░ least to my ear ░░░░░░░░ MMT the language and ░░░░░░░░ concepts can be kind ░░░░░░░░ unnecessarily confusing but there ░░░░░░░░ no question that the ░░░░░░░░ prints money and then ░░░░░░░░ uses that money to ░░░░░░░░ so um yeah I ░░░░░░░░ I m just I ░░░░░░░░ t really talk I ░░░░░░░░ t get it I ░░░░░░░░ t know what they ░░░░░░░░ talking about like cause ░░░░░░░░ s like the government ░░░░░░░░ prints money it does ░░░░░░░░ all the time and ░░░░░░░░ clearly borrows Otherwise we ░░░░░░░░ t be having this ░░░░░░░░ and deficit conversation So ░░░░░░░░ don t think there ░░░░░░░░ anything confusing there.”