I see this back and forth, could you help me understand why these dollars shouldn't be considered "created"? My limited understanding is something like this: Congress/President decide US citizens need stim checks. They decide to issue $1T+ in stim checks. The Treasury doesn't have enough money from taxes so it issues debt notes / T-bills. A lot of these T-bills then get purchased by the Fed with dollars they printed out of thin air. So how is it that printed Fed dollars are not ending up in the hands of the average citizen and thus entering the economy?