Sort of. The Federal Reserve is nominally independent and controls the money supply. The US Treasury sells bonds to finance the government, and The Fed buys som

Sort of. The Federal Reserve is nominally independent and controls the money supply. The US Treasury sells bonds to finance the government, and The Fed buys some of these bonds. You are correct that tax dollars don’t totally fund the government, it is also possible taxes aren’t needed at all to fund government operations, since as you said, the money supply and government bond issues can theoretically be increased arbitrarily. Practically, the debt ceiling limits how much the government can borrow, and inflation/unemployment control how much money is created by The Fed.