Just a quick note to point to the link to this Columbia Law School seminar on the whole arrangement of money and how money works.
Modern Money and the Public Purpose the Historical Evolution of Money and Debt
Explains the wheels within wheels which drive monetary and fiscal policy. Bottom line the Government spends money into existence , and buys bonds and taxes only to remove reserves from the system. These discussions illuminate that idea of the government government's finances being equivalent to an individuals can be true only if that individual is responsible for furnishing all the legal tender for a country, otherwise it is shown to be completely ludicrous.