This is what I wrote to the two authors:
In the above CRS Report there
is a wrong model of savings-borrowing-deficits-investments in light of
recent academic published papers:
1) Werner, R.A., A lost century
in economics: Three theories of banking and the conclusive evidence,
International Review of Financial Analysis (2015)
http://www.sciencedirect.com/science/article/pii/S1057521915001477
2)
The TRUTH about BANKS , by Michael Kumhof and Zoltán Jakab , Finance
& Development – A quarterly publication of the International
Monetary Fund, March 2016, Volume 53 – Number 1, pp. 50-53
https://www.imf.org/external/pubs/ft/fandd/2016/03/pdf/fd0316.pdf
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