Why? You do understand that a balance sheet is income vs. liability, right?
So are you saying that government is a liability? I could go along with that. BTW why would you want to link the private sector economy with foreign economy’s ?
This is the problem with Keynesian (neo or otherwise) gobbledygook masquerading as actual economics. All economics is about profit and loss. Period. Debit finance and deficit spending ignores these sound principles. Yet we’ve developed a monetary system that is based entirely upon debt and all debt is a liability upon future earnings. That’s the heart and soul of the matter. Can you honestly dispute that?
A couple of other questions for you. Why are theft and counterfeiting illegal? If someone breaks into your house and wipes you out of all your possessions, and you don’t have insurance, don’t you have to use money earmarked for other things to replace those items? When I get my pay check- X amour of dollars I earn are missing. Money I can’t spend of my own choosing, for the welfare of my family, friends, community, church or even just for savings that banks could then lend to others for business, infrastructure, home mortgages, exc. As for the counterfeiting, if you can’t just print your own money then how is it legally possible for the government to?
These are just a few of the sticky wickets emanating from Keynesian philosophy. Austrian theory has none of those blind spots.