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Deficits over a period (say, a year) mean that more bank accounts have been credited than debited. The nongovernment sector realizes its surplus initially in the form of these net credits to bank accounts. So it is pretty straightforward: the government’s deficits create the nongovernment’s surpluses.
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Main.gov deficit is nongov surplus. but who gets the money though
Modern Money Theory: A Primer on Macroeconomics for Sovereign Monetary Systems
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