created by the government, which in turn determines income, which in turn determines the savings. The budget deficit creates … the savings, not that the savings finance the budget deficit. Reducing the budget deficit will reduce savings, income, and …Japanese Abstract: 世に言う『財政規律』によれば少なくとも長期的には財政収支が均衡することを求められる。一方,最近話題のMMT (Modern Monetary Theory …