The money that didn't come back as taxes (the money hoarded by the very wealthy) gets made up by selling Treasury Bonds. So the budget ALWAYS balances. But Treasury Bonds get paid back at interest, which accounts for federal debt.

So here's the $64 million question: Why do we need the Federal Reserve to mint money, rather than the Department of the Treasury? We have a currency system where, instead of the Dept. of Treasury creating $5 trillion for Covid bailouts and being even, the Fed creates the money and LENDS it to us at interest. The Federal Reserve Act was created because deposits weren't insured. The FDIC was created by the 1933 Banking Act.

So if you were someone like Jamie Dimon, CEO of JP Morgan Chase, you make money every time Congress spends. Because ALL Congressional spending is done through appropriations this way, not taxes. So when the government bailed out the banks (yes, JP Morgan was one of them) the Fed (banks) created a bunch of money and then gave it to themselves. They of course had to repay the money (after they had used that money to make even more money) but then when it came time for the government to repay the Treasury Bonds, the banks profited off the interest, too.

And I haven't even TOUCHED on how the Fed manipulates interest rates for these bankers profit and the profit of wealthy shareholders. People on the left and on the right seem to agree on this, although it doesn't get a lot of press coverage because it isn't exciting and sexy, but there is no reason for this country to LOSE money when we create money. It is LONG past time to end the Federal Reserve and give the authority to mint currency back to the Dept of Treasury where it belongs.