No doubt over the last few years it has become easy to forget what money is. Many don’t have enough, while a few have a lot more than most. On top of that we’re constantly reminded of the $16 trillion national debt, or is it over $200 trillion? The Fed continues to expand its balance sheet northwards of $3 trillion, though it may be tapering soon. The Defense Department spends almost $1 trillion annually. Don’t forget about student loans, which total somewhere around $2 trillion.
Thanks to The Atlantic, we can cut through those dizzying numbers and go down to basics in order to find out what money really is.