I would have thought so too. Then I looked at the data. In the first 11 months of 2023, the treasury ‘printed’ $22.7 Trillion. Tax revenue is about 10% of cash

I would have thought so too. Then I looked at the data. In the first 11 months of 2023, the treasury ‘printed’ $22.7 Trillion. Tax revenue is about 10% of cash flow. https://www.sifma.org/resources/research/us-treasury-securities-statistics/ https://www.sifma.org/resources/research/us-treasury-securit...